Евротранс enters default on all bonds
Eurotrans defaulted on all bond issues.
Consensus
- PАО «Евротранс» entered a de facto default on all of its bond issuances.
- The default was due to temporary cash shortages caused by uneven revenue inflows.
- Sberbank announced plans to file for bankruptcy against «Евротранс» in arbitration court.
- Moscow Exchange moved all «Евротранс» bond issuances to trading regime 'D' starting 6 August.
- The company failed to make coupon payments on all bond issues, including green and corporate bonds.
- The default was confirmed by the company's disclosure on the Corporate Information Disclosure Center website.
Points of divergence
- «Евротранс» attempted to repay debts by making small payments, with the last one on 25 August for 0.0259 rubles per bond on issue BO-001R-06. — kommersant
- «Евротранс» stopped disclosing information about the buyback of 'people's' bonds from mid-July and failed to fulfill redemption requests starting 10 July. — vedomosti
- «Евротранс» previously experienced defaults on three bond issues and technical defaults on seven others. — vesti
- The first actual default occurred on 5 August, when only 19% of the coupon payment was made for issue BO-001R-09. — vedomosti
Coverage (3 sources)
- Eurotrans moved to de facto default on all bonds — Вести
- Eurotrans defaulted on all bond issues — Коммерсантъ
- Eurotrans admitted actual defaults on all bond issues — Ведомости