Yandex

2022 - 3 - 4

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Image courtesy of "Search Engine Journal"

Yandex Warns Debt May Affect Ability To Continue Operating (Search Engine Journal)

Yandex issued a statement warning of two threats to its continued operations, either of which could cause material adverse effect.

Yandex said that because most of its operations and assets are located within Russia, such a move could have a negative effect on its value. It further stated that even if it were able to satisfy paying back a material portion of those notes it would still need to secure financing in order to keep operating. Yandex stated that it could operate for many months should either of those scenarios be avoided.

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Image courtesy of "The Verge"

Russia's Yandex 'pauses' autonomous vehicle testing in the US (The Verge)

Yandex, a technology company based in Russia, is shutting down its autonomous vehicle testing in the US. The company is also pausing its sidewalk robot ...

The Russian invasion of Ukraine is having far-reaching consequences for companies like Yandex that had international ambitions. And in 2020, Yandex opened a technology center in Ann Arbor, bringing along some of its AVs for public road testing. “We hope to resume the operations in the future,” a spokesperson said.

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Image courtesy of "Bloomberg"

Bondholders Say Russia's Yandex Has Paid Coupon on Dollar Debt (Bloomberg)

A Russian telecommunications company has paid a coupon due Thursday on dollar bonds, in a relief to investors who fretted over whether Russian companies ...

Search engine Yandex NV, the group’s entity based in The Netherlands, transferred $4.7 million to holders of its $1.25 billion bond due 2025, according to bondholders. It’s the first foreign-currency coupon payment by a company headquartered in Russia since sweeping sanctions and capital controls raised fears among bondholders that corporates won’t be able to service their debts. A Russian telecommunications company has paid a coupon due Thursday on dollar bonds, in a relief to investors who fretted over whether Russian companies will continue servicing their foreign-currency bonds.

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Image courtesy of "Economic Times"

Russian tech giant Yandex says might default (Economic Times)

In a press release published Thursday, Yandex, which is legally headquartered in the Netherlands but has its main offices in Russia, said that it was not ...

Nasdaq, in a response to an AFP inquiry, said that the Yandex listing "remains halted." "The Yandex group as a whole does not currently have sufficient resources to redeem the notes in full," the company said. Nasdaq, in a response to an AFP inquiry, said that the Yandex listing "remains halted." In a press release published Thursday, Yandex, which is legally headquartered in the Netherlands but has its main offices in Russia, said that it was not targeted by the sanctions. "The Yandex group as a whole does not currently have sufficient resources to redeem the notes in full," the company said. In a press release published Thursday, Yandex, which is legally headquartered in the Netherlands but has its main offices in Russia, said that it was not targeted by the sanctions.

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Image courtesy of "Financial Times"

Yandex, considered 'Russia's Google', shaken and isolated by ... (Financial Times)

Western investors and tech partners are abandoning the group following Moscow's invasion of Ukraine.

Russia's Yandex warns of bond repayment and supply risks (Reuters)

Russian internet giant Yandex on Friday warned that a trading suspension on its Nasdaq-listed shares could trigger a redemption right on a convertible bond ...

Lithuania asked tech companies to remove the app for Yandex's ride-hailing service from their stores this week. Yandex has avoided sanctions, but like all Russian companies it has suffered reputational damage. "The current principal amount outstanding is $1.25 billion.

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Image courtesy of "CNN"

Yandex: Russian search engine warns it could default - CNN (CNN)

Russia's biggest search engine could collapse as financial fallout from the invasion of Ukraine spreads.

Dealing in the stock has been suspended this week as the value of Russian assets collapsed in Moscow and around the world in the wake of the invasion. The crisis in Ukraine poses another threat to its business. The company is based in the Netherlands, but its shares are listed on the Nasdaq and the Russian stock exchange.

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Image courtesy of "DatacenterDynamics"

Russian cloud and search giant Yandex warns it might default (DatacenterDynamics)

The company avoided immediately defaulting by paying a coupon due Thursday. Its Netherlands-based division transferred $4.7 million to holders of its $1.25 ...

"We are currently analyzing the new export controls and working closely with our vendors. "We believe that our current data center capacity and other technology critical to operations will allow us to continue to operate in the ordinary course for at least the next 12 to 18 months," it said. "None of Yandex N.V., any of our subsidiaries, any of the members of our Board of Directors or management or any of our principal shareholders is a target of sanctions," Yandex said in a statement.

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