Mriya demanded to redeem 2018 notes

Mriya demanded to redeem 2018 notes



15 жовтня 2014 года
Конкорд Капитал

Мрия Агрохолдинг (MAYA)


Agricultural holding Mriya (MRIYA) reported on Oct. 14 that it received a notice of acceleration regarding its 2018 notes, including principal of USD 400 mln and accrued interest. On the top of bonds’ forced redemption, certain banks have issued accelerated payment notices based on guarantees issued by Mriya, worth a total of EUR 49 mln (USD 62 mln).



Roman Topolyuk: Despite Mriya having announced problems with debt repayment already two and a half months ago, it has yet to propose a restructuring plan to bondholders. Meanwhile, its bonds are trading at a heavy discount to par (25 cents per dollar). We see little prospects for a quick and comfortable agreement between the issuer and bondholders and we don’t recommend entering Mriya’s bonds, even at the current low prices.

Источник: Конкорд Капитал

Аналитик: Роман Тополюк
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