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Banana-Mama defaults on debut bonds

April 29, 2009 Cbonds
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.
Issue — Banana-Mama, 01
  • Status
    redemption default
  • Country of risk
    Russia
  • Redemption (put/call option)
    *** (***)
  • Amount
    1,000,000,000 RUB
  • М/S&P/F
    — / — / —
Company — Banana-Mama
  • Full name
    Banana-Mama
  • Registration country
    Russia
  • Industry
    Trade and retail