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The volume of last year's defaults on bonds of Russian issuers amounted to less than a third of 2009 recession year – Cbonds release

January 17, 2018 | Cbonds

According to the annual consolidated bond defaults statistics, the volume of outstanding obligations among Russian corporate issuers amounted to 35,523.75 million rubles in 2017, which is 1.73% less than in the previous year and 3.5 times less than the peak in 2009. In addition, the cumulative volume of outstanding obligations to the volume of corporate bonds of Russian issuers was 0.31% in 2017, which is by 7 pp less than last year's result. In the recession year 2009, this ratio was 4.83%. 

Of the 133 outstanding obligations – 89 account for defaults on the coupon (10,175.78 million rubles) and 6 – for technical defaults on the coupon (522.98 million rubles). Also at the end of the year, 12 outstanding offers (12,476.99 million rubles), 25 defaults on payment (12,345.63 million rubles, including defaults on payment of amortization of face value) were recorded. Technical defaults on payment (including technical defaults on payment of amortization of face value) are not fixed. 

Some issuers that defaulted on payment: FESCO, LizinGarant, RGS Real Estate, TGK-2 and Spartak-Kazan Trading House. The largest volume of outstanding obligations was fixed with the RGS Real Estate – the issuer defaulted on three issues for 8 billion rubles. 

At the same time, the volume of emissions for which obligations have defaulted in 2017, amounted to 465,950 million rubles (4% of the total volume of corporate bonds of Russian issuers). 

You can find more details on the default statistics in this section:

Company: Cbonds Group

Full company nameCbonds Ltd
Country of riskRussia
IndustryInformation and High Technologies


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