MOSCOW, December 1 (RIA Novosti) - The Russian Finance Ministry said Friday it has completed an exchange of Soviet-era commercial debt for Eurobonds maturing in 2010 and 2030, in a volume of $1.075 billion.
The Soviet Union's debt to commercial lenders accrued from the export of goods and services by foreign companies.
The ministry stopped receiving creditor claims on the second tranche of the Soviet Union's commercial debt in November.
Second-stage creditors' claims were swapped on the terms of the London Club of commercial creditors, i.e. for Eurobonds maturing in 2010 and 2030, and partially for cash.
The Finance Ministry swapped the first tranche of Russia's Soviet-era debt to commercial creditors for its Eurobonds in December 2002. Claims worth $1.28 billion were recognized for the swap.
