Alliance Russian Textile fails to redeem Series 02 bonds

OAO Alliance Russian Textile didn’t pay a coupon worth RUR 25.43m and repay the principal worth RUR400m on Series 02 bonds yesterday. The liability was not settled due to the liquidation of the company. A decision to liquidate the company was upheld by the shareholder meeting on January 16, 2009. The issuer has Series 02 and 03 bonds outstanding. The 2nd bond issue worth RUR1bn was placed in March 2005. The 3rd bond issue worth RUR1.2bn is due in October 2009. It was arranged by TransCreditBank.

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

• Full name
  Alliance Russian Textile
• Registration country
  Russia
• Industry
  Light industry