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MG Group defaults on Series 03 bonds

March 17, 2011 | Cbonds

OOO MG Group failed to pay a coupon and a principal installment on Series 03 bonds on March 17, the issuer said in a statement. Coupon 6 pays 14.99% which accounts for the missed coupon payment reaching RUR66.528m. The 2.2% principal installment was also payable on March 17. Thus the issuer failed to pay a total of RUR106.128m. The payment was not made due to lack of liquidity.

Issue: MG Group, 03

StatusDefaultCountry of riskMaturity (option)AmountIssue ratings (M/S&P/F)
redemption defaultYesRussia05/17/20111,800,000,000 RUB-/-/-

Company: MG Group

Full company name"MG Group" LLC
Country of riskRussia
Country of registrationRussia
IndustryConstruction and development

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