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MG Group defaults on Series 03 bonds

May 18, 2011 | Cbonds

MG Group has defaulted on Series 03 bonds. The issuer didn’t pay accrued interest for coupon period 7 and didn’t repay 86.8% of the principal, the issuer said in a statement. The missed payment amounts to RUR 1,601.532m including RUR39,132,000 in accrued interest. 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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