Mriya to meet with bondholders on Oct. 3

Mriya to meet with bondholders on Oct. 3



1 жовтня 2014 года
Конкорд Капитал

Мрия Агрохолдинг (MAYA)


Mriya Agro Holding (MRIYA, MAYA GF), which earlier this year missed some of its debt repayments and admitted having hidden USD 200 mln in debt obligations, is calling an informal meeting with its bondholders, the company reported in its Sept. 30 notice. The meeting is scheduled to be held in London in the afternoon of Oct. 3, the company announced. Mriya has invited only “verified noteholders”, promising to provide instructions for the verification procedure. The company reportedly does not intend to provide any material non-public information at the meeting.



Alexander Paraschiy: This is Mriya’s first attempt to listen to its bondholders since its Aug. 1 notice on its missed debt payment. It seems the company wasn’t able to do this earlier, as it spent the last two months reshuffling its management and pool of advisers. The recent attempt, however, has not encouraged the creditors as Mriya’s bonds kept trading below 28% their par value after the announcement.



The company earlier reported that it would be ready to discuss debt restructuring issues after the middle of October, when it plans to finalize its cash flow projections. So it’s unlikely that the upcoming meeting will add anything to understanding Mriya’s current situation.

Источник: Конкорд Капитал

Аналитик: Александр Паращий
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