OR Group says in default on 2 bonds' coupons

MOSCOW, Apr 26 (PRIME) -- Russian shoe retailer OR Group, previously known as Obuv Rossii, has committed default on coupons of two exchange bond issues, the company said in a statement on Tuesday.

OR Group was to pay a 4.725 million ruble coupon on the 001P-03 series bonds on April 11 and a 1.366 million ruble coupon on the 002P-02 series bonds. The technical default expired on Tuesday, which means a real default.

The company, having eight issues of bonds amounting to about 4.75 billion rubles total in circulation, earlier announced a default on a BO-07 issue and a technical default on 001P-01 bond by failing to pay amortization. The company also defaulted on a 9.7 million ruble coupon of 001P-02 exchange bonds.

(73.3611 rubles – U.S. $1)

End