OZON may default due to bond payments

The problem with the bonds arose against the background of the suspension of trading on the Nasdaq exchange.

This affected the securities of companies doing business in Russia, including OZON.

According to the rules, if trading is not conducted for 7 days or more, bondholders have the right to declare payment of both the value of securities and interest on them. At the same time, at the moment, a significant part of the holders have declared their intention to receive money for securities. This follows from the report published by the company. The maturity date for these securities will come on May 31.

The company expressed concerns that it may simply not have enough liquidity to finance all payments. At the same time, the final maturity date will come on June 14. By this point, if payments are not made, there may be a cross-default with other obligations.

To solve the problem, a special committee has already been created, which includes holders of securities. They are negotiating with the company, trying to come to a solution that will satisfy all parties, Kommersant reports.