Banana-Mama fails to exercise put option

OOO Banana-Mama failed to exercise a put option on Series 02 bonds worth RUR1.5bn on Friday, according to Troika Dialog, the agent on the put option. The issuer also defaulted on a RUR 86.01m coupon payment last week. The 2nd bond issue worth RUR1.5bn was placed in August 2007 at 11.5%. It was arranged by Troika Dialog. The issue is guaranteed by OOO Trial, which is undergoing a bankruptcy procedure launched in November 2008.

• Status
  redemption default
• Country of risk
  Russia
• Redemption (put/call option)
  *** (***)
• Amount
  1,500,000,000 RUB
• М/S&P/F
  — / — / —

• Full name
  Banana-Mama
• Registration country
  Russia
• Industry
  Specialty Retailers