Cbonds Information Agency has updated the default website section.
Two parameters have been added to the previously published summary data: default causes and announcement date.
The search in the database is carried out with respect to the following criteria:
• Region and country;
• Issuer name and sector;
• Issue type and currency;
• Announcement publication period;
• Outstanding obligation type;
• Default status and cause.
The current version of the section includes six causes of obligation default:
• License revocation of the Central Bank;
• Impossibility of transaction;
• Restriction to creditor’s requirement compliance;
• Lack of funds;
If there is no accurate information on the default cause, “No data” will appear.
The section functionality allows saving the user’s request, as well as uploading the data in Excel and CSV formats.
At the top of the menu you can go to the related sections: “Default Statistics” and “Default and Restructuring News”.
Outstanding obligations cover of the debt markets includes:
Bonds and Eurobonds of the Russian issuers;
EM issuers’ Eurobonds (149 countries);
DM issuers’ bonds and Eurobonds (36 countries).
Over the past five quarters, the Cbonds default database includes more than 420 events. May be it is better to change this period? “5 quarters” sounds strange.
In particular, according to the results of 2016, the volume of outstanding obligations among Russian corporate issuers amounted to RUB 36,152.65 million that was 17 % less than the previous year indices and 3.4 times less than the indices of peak 2009. 108 outstanding obligations include 75 defaults on coupon (RUB 6,800.28 million) and 12 technical defaults on coupons (RUB 1,587.08 million). At the end of the year, eight unfulfilled offers (RUB 16,864.89 million), 11 redemption defaults (RUB 10,158.4 million, including defaults on the face value depreciation payment), and two redemption technical defaults (RUB 742.01 million, including technical defaults on the face value depreciation payment) have been recorded.
Since the beginning of 2017 more than 50 events of obligation default in the total amount of more than RUB 9 billion have been recorded on the domestic market.
You can familiarize yourself with the updated data on the defaults in the section “Bonds”, subsection “Defaults”.
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