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Marta fails to execute put option on 3rd bond issue

August 07, 2008 | Cbonds

Marta Holding faced a new technical default yesterday, as the company failed to execute a put option on its 3rd bond issue not managing to redeem bonds worth RUR1,201,698,000 and make RUR2,042,886.60 of coupon payments. The company explains the fact by lack of finances to carry out a buyback.

On August 4 the company didn’t manage to make coupon payments on the same issue and acknowledged a technical default. On August 5 the company issued an official statement declaring its insolvency.

Issue: Marta Finance, 03

StatusDefaultCountry of riskMaturity (option)AmountIssue ratings (M/S&P/F)
redemption defaultYesRussia08/02/20112,000,000,000 RUB-/-/-

Company: MARTA Holding

Full company name
Country of riskRussia
Country of registrationRussia
IndustryTrade and retail


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