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Matrix Finance to pay coupon but not to redeem debut bond in full

December 10, 2008
Matrix Holding is not able to repay the principal on Series 01 bond issue of Matrix Finance (an SPV-company of Matrix Holding) in full today, but it intends to pay a coupon on all bonds and pay the principal to individual investors. The total amount of payments is expected to be about RUR50m. As far as other bondholders are concerned, the company is now in talks about restructuring the debt, as specified by CEO Oleg Blindyaev. He mentioned that the majority of bondholders had expressed their readiness to cooperate and the first documents on debt restructuring had been signed. The company approached bondholders in late November suggesting swapping bonds for simple interest-bearing bills.
  • Status
    redemption default
  • Country of risk
    Russia
  • Redemption (put/call option)
    *** (***)
  • Amount
    1,200,000,000 RUB
  • М/S&P/F
    — / — / —
Company — Matrix Finance
  • Full name
    Matrix Finance
  • Registration country
    Russia
  • Industry
    Trade and retail