Russia's Ozon begins settling with bondholders in US dollars, roubles

MOSCOW (Reuters) - Russian e-commerce firm Ozon has started making payments in U.S. dollars and roubles to bondholders who had provided their information before an April 5 cut-off date, the firm said on Wednesday.

Ozon is currently appealing a decision by the U.S. Nasdaq exchange to de-list its shares, which have not traded on the U.S. bourse since February 2022, days after Russia ordered tens of thousands of troops into Ukraine and the West hit Moscow with an unprecedented package of economic sanctions.

The company has been negotiating with bondholders for months after it failed to redeem some bonds to a group of holders last May, putting it at risk of default.

On Wednesday, Ozon said cash redemption amounts had been paid to all holders of its $750 million senior unsecured convertible bonds due in 2026, as long as bondholders had provided eligibility instructions prior to the cut-off date.

"The payment of the cash redemption amounts did not result in a violation of sanctions by any person," Ozon said.

Ozon has not been placed under Western sanctions, but a board member last week resigned after personal UK sanctions were imposed on him.

Bondholders who missed the cut-off date will have another opportunity to provide their details, Ozon has said.

(Reporting by Alexander Marrow; Editing by Josie Kao)