OOO Banana-Mama had a technical default on debut bonds on April 24, according to the National Depository Centre, the paying agent on the issue. The company failed to pay a 12% coupon amounting to RUR 59.84m. The issue is worth RUR1bn.
The issuer also failed to settle a put option on April 28, as confirmed by Troika Dialogue, the issue arranger. The issuer didn’t disclose the number of bonds submitted for buyback.