THIS MESSAGE (MATERIAL) IS CREATED AND (OR) DISTRIBUTED BY A FOREIGN MASS MEDIA PERFORMING THE FUNCTIONS OF A FOREIGN AGENT AND (OR) A RUSSIAN LEGAL ENTITY PERFORMING THE FUNCTIONS OF A FOREIGN AGENT.
The OR Group (formerly Obuv Rossii), which owns the Westfalika shoe store chain, entered into a technical default on the redemption of BO-07 series bonds in the amount of RUB 592 million.
“The issuer did not fulfill its obligations to the bondholders – a technical default,” TASS reports, citing company materials.
The reason for non-fulfillment of obligations to the owners of securities was the lack of funds in the issuer’s current account in the amount necessary to fulfill obligations.
At the same time, on its website, OR GROUP reported that it was able to pay only interest – in the amount of 17.4 million rubles. — on the 20th coupon of exchange-traded bonds of series BO-07. “The company has fully fulfilled its obligations to pay coupon income,” the message says.
We also recall that on November 25 last year it became known that the Russian company OVK Finance, a structure of the United Wagon Company (UWC, partly owned by the state), allowed a technical default.
Source: Rosbalt
Tristin is an accomplished author and journalist, known for his in-depth and engaging writing on sports. He currently works as a writer at 247 News Agency, where he has established himself as a respected voice in the sports industry.
