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IzhAuto fails to honour put option

August 27, 2009 | Cbonds

IzhAuto failed to honour a put option on Series 02 bonds, according to MDM Bank, the agent on the transaction. The company was to buy back 1.2mln bonds worth RUR1.2bn out of the RUR2bn issue amount.

IzhAuto initiated a bankruptcy procedure in early August. The arbitration court of Udmurtia will start hearing the case on September 4.


Issue: IzhAuto, 02

StatusDefaultCountry of riskMaturity (option)AmountIssue ratings (M/S&P/F)
redemption defaultYesRussia06/09/20112,000,000,000 RUB-/-/-

Company: IzhAuto

Full company nameopen joint stock company IzhAuto
Country of riskRussia
Country of registrationRussia
IndustryEngineering industry

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