Svobodny Sokol defaults on put option failing to buy back RUR1.2bn in Series 03 bonds

December 3, 2008
OAO Svobodny Sokol has defaulted on a put option failing to buy back RUR1.2bn in Series 03 bonds, the issuer reported. Bondholders submitted for redemption 1,195,352 bonds worth RUR1,195,352,000 plus RUR4,817,268.56 of ACI.

The obligation was not paid because of the issuer’s liquidity shortages occurring due to unfavourable market conditions and deteriorating financial and economic situation. The issuer has to pay RUR1,200,169,268.56.
  • Status
    redeemed
  • Country of risk
    Russia
  • Redemption (put/call option)
    *** (***)
  • Amount
    1,200,000,000 RUB
  • М/S&P/F
    — / — / —
Company — Svobodny Sokol
  • Full name
    Open Joint Stock Company Svobodny Sokol
  • Registration country
    Russia
  • Industry
    Ferrous metals