The company "Prime Finance" allowed a technical default on the issue of bonds at 11.7 billion rubles. with maturity in July 2021. It did not pay holders 620.4 million rubles. on the ninth coupon due to the forthcoming restructuring of this issue, the company said in a statement. "Prime Finance," as it says in its documents, is connected with the financing of the assets of O1 Group Boris Mints. In connection with the technical default, the Moscow Stock Exchange transferred two other issues of the company's bonds for a total amount of 10 billion rubles. to the third level of the list of securities admitted to trading.
"Prime Finance" plans to hold a general meeting of bondholders on the restructuring of the issue by 11.7 billion rubles by the end of January. The company intends to extend the current coupon period until January 14, 2019 with the retention of the coupon rate, as well as offer the bond owners compensation, the message says.
Earlier, Prime Finance managed to restructure one of the issues for 5 billion rubles. The company postponed the maturity of the securities from 2026 to 2031 and reduced the number of coupons from 20 to 4. Another five-billion-dollar issue could not be restructured: at the bondholders' meeting on November 3 there was no quorum, and the majority of those who did vote opposed changes in conditions.
One of the buyers of bonds "Prime Finance" was the financial group (FG) "Future" (owns the same name NPF). In 2016, it invested 24 billion rubles. in the papers "Prime Finance", "O1 Property Finance" and "Finstandart", which "are somehow connected with the financing of assets of the O1 Group", wrote in the presentation for investors "VTB Capital". What exactly were the bonds of Prime Finance bought by the group, was not disclosed.
Previously, FG "Future" representative informed that there are no restructured securities of Prime Finance in the pension accumulation portfolios of the fund's funds.
Vedomosti expects the comments of FG "Future" and OOO "Prime Finance".