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OGO defaults on Series 03 bond issue

July 07, 2009 | Cbonds

OAO AIC OGO has defaulted on Series 03 bonds failing to pay a coupon and honour a put option on the issue. The company missed the 4th coupon payment amounting to RUR 112.185m. The company also didn’t buy back 847,653 bonds worth RUR 847,653 submitted by bondholders in the framework of the put option. The issuer explains the situation as a temporary liquidity shortage.

The company failed to redeem Series 02 bonds in February 2009.

Issue: OGO AIC, 03

StatusDefaultCountry of riskMaturity (option)AmountIssue ratings (M/S&P/F)
redemption defaultYesRussia07/09/20101,500,000,000 RUB-/-/-

Company: OGO AIC

Full company nameOGO Agro-industrial company
Country of riskRussia
Country of registrationRussia
IndustryFood industry

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