GT TETS Energo is in a technical default on Series 04 bonds. The issuer failed to pay a coupon and redeem the issue on September 2, the company said. The missed payment totals RUR 2,106.8m. The obligations were not fulfilled as Moscow Inspectorate of the Federal Tax Service #3 didn’t comply with a decision of Moscow Court of Arbitration regarding VAT refunds.
The issuer also didn’t pay the 5th coupon on the issue in March 2009. The issue amounts to RUR2bn.