Page 78 - RusRPTJuly18

8.5.1 Fixed income - bond news
O1 Group Finans of the O1 Group real estate company of Russian billionaire Boris Mints defaulted on a RUB5bn bond , unable to pay the fourth coupon worth RUB125mn, and previously failed to carry out the mandatory buyout offer for the same bonds. This makes the third default on five bond issues by O1 worth a total of RUB87bn ($1.37bn). O1 Group has been struggling to pay outstanding bonds . The Moscow Exchange recently marked the bonds as in default and transferred the notes of O1 Group Finans issuer to default trading mode. The group's owner Russian businessman Boris Mints and his family moved to London as he is struggling from contagion and losses in the wake of the collapse of his bank Financial Corporation Otkritie. This month Standard & Poor's Global lowered its long-term issuer credit rating on real estate investment
RUSSIA Country Report July 2018 www.intellinews.com