Magnezit Group has honoured a put option on Series 02 bonds. The issuer bought back 250,000 bonds. The bonds were bought back at 100% of par value.
The RUR2.5bn bond issue was sold on April 12, 2007. The issue has a 4-year tenor. The issue had a put option on April 3, 2009, but the issuer didn’t manage to honour it and approached investors with a debt restructuring plan. The final payment in line with this plan is due September 24, 2010.