Ozon says fails to pay bonds early, trying to agree with holders

MOSCOW, May 31 (PRIME) -- Russian marketplace Ozon has failed to pay to its bondholders who decided to exercise the right of early repayment, and is signing an agreement, under which the holders will not demand full repayment during restructuring talks, the online retailer said late on Monday.

“The company is in the process of signing a suspending agreement…with the bondholders. It says that the bondholders will not demand full redemption while the negotiation process on the loan’s restructuring is in progress. The company also expects to come to terms on the main conditions of the loan’s restructuring soon,” Ozon said.

Cypriot firm Ozon Holdings earlier warned the investors about a potential technical default on its convertible bonds.

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