Page 67 - RusRPTJune18

Montenegrin Finance Minister Darko Radunovic said that foreign investors positively evaluated the activities of the finance ministry and the government following positive reviews put out by the International Monetary Fund (IMF) and the World Bank, as well as positive ratings from rating agencies. The demand for the issue totalled €1.482bn, almost three times more than the sold issue, the finance ministry said.
8.5.1 Fixed income - bond news
Russian businessman Boris Mints’s O1 Group real estate developer went into technical default on RUB14bn ($222mn) worth of bonds maturing in April 2027 after it skipped a coupon payment of RUB358mn, the company said on May 3. The bonds traded at 2.55% of nominal value as of May 4 on Moscow Exchange. His non-state pension fund (NPF) Budushee, the third largest in the country, held 10% and 4.1%, respectively in the two banks. The NPF is now reportedly up for sale , while previously the problems with banking
67 RUSSIA Country Report June 2018 www.intellinews.com