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Sibir Airlines buys back Series 01 bonds in line with debt restructuring plan

September 7, 2010 Interfax-Siberia (translated by Cbonds)
OAO Sibir Airlines (S7 trademark) has finished buyback of Series 01 bonds in line with the debt restructuring plan, according to Interfax-Siberia. As of August 31, 2010 bondholders held 335,359 bonds worth RUR 335.359m. Thus 14.6% of the issue remains outstanding. The issue par amount is RUR2.3bn. As stipulated by the debt restructuring offer, the issuer bought back 20% of bonds held by those accepting the offer at once and then carried on repurchasing bonds in line with the schedule. The last buyback in the framework of debt restructuring was scheduled for August 30, when bondholders submitted no bonds for buyback. This shows bondholders’ trust in the company, as noted by its representative.
The RUR2.3bn issue was sold in July 2007. In February 2009 the issuer defaulted on a put option with RUR1.8bn of bonds submitted for buyback.

  • Status
    redeemed
  • Country of risk
    Russia
  • Redemption (put/call option)
    *** (***)
  • Amount
    2,300,000,000 RUB
  • М/S&P/F
    — / — / —
Company — Sibir Airlines
  • Full name
    Sibir Airlines JSC
  • Registration country
    Russia
  • Industry
    Transportation