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Nikoshim-Invest honours obligations to 98% of Series 02 bondholders

September 23, 2009 Cbonds
OOO Nikoshim-Invest has restructured Series 02 bonds settling obligations to 98% of bondholders. The remaining 2% are offered to resolve the situation on the same terms described in a July 17 agreement.

The issuer is obliged to repay 10% with cash and the remaining part with Series 02 bonds of OAO Kaustik. The offer is valid till October 2, 2009.

Uralsib Capital and Veles Capital are agents on debt restructuring.

The company defaulted on the 2nd bond issue on August 20 jailing to redeem the bonds and pay accrued interest. The issuer continued to fulfill obligations on the issue during the period of technical default. As of September 21, 2009 unhonoured obligations on the issue amounted to RUR18.538m, or 2% of bonds outstanding on the date of signing an agreement with bondholders.
  • Status
    redemption default
  • Country of risk
  • Redemption (put/call option)
    *** (***)
  • Amount
    1,500,000,000 RUB
  • М/S&P/F
    — / — / —
Company — Nikoshim-Invest
  • Full name
    open joint stock company Nikoshim-Invest
  • Registration country
  • Industry
    Chemical and petrochemical industry