PIK Group says fails to pay bond coupon over technical issues

MOSCOW, May 31 (PRIME) -- The issuer of the debut issue of PIK Group's bonds maturing in 2026 has not received the money to pay the accrued coupon income due to technical issues, PIK Group's Deputy CEO for capital markets Yury Ilyin said late on Monday.

"To respect the rights of all investors, both resident and non-resident, we are working on various transaction options. We are considering several alternatives from the point of view of legal and infrastructure possibilities," Ilyin said.

PIK Group placed U.S. $525 million bonds in November 2021 at 5.625% annually. On Monday, the company reported a failure to pay the coupons because of the impossibility to send the money to agent Bank of New York Mellon.

End