Pharmacy Chain 36.6 Restructured 94% of Bonds Series 01
OREANDA-NEWS. October 22, 2009. OAO Pharmacy Chain 36.6 jointly with ZAO Raiffeisenbank, acting as the Restructuring agent and consultant, reached the agreement with 94% of the series 01 bondholders for the total amount of RUR 1.8 bln. Restructuring process was structured as the exchange of bonds series 01 for the new bonds series 02.
The main terms of the restructuring are the following:
Principal debt repayment — 6 quarterly payments, from March 2011 through June 2012.
Coupon rate — 18% annually.
Coupon payment — quarterly.
Dmitry Anisimov, CFO of OAO Pharmacy Chain 36.6:
"The successful restructuring demonstrates investors’ trust in the Company and their appreciation of the Company’s potential. Even in difficult market conditions, Pharmacy Chain 36.6 could offer investors acceptable restructuring terms. Currently the Company continues its negotiations with the remaining series 01 bondholders and believes in their successful completion".
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