Brief: Russia's Ozon Warns About Potential Default On Bonds

Ozon Holdings

27/05/2022 06:34

May 27 (Reuters) - Russia's Ozon Holdings  OZON.O  says:
    * DUE TO RESTRICTIONS UNDER RECENTLY ENACTED RUSSIAN CAPITAL
CONTROLS AND PROTECTION MEASURES AND CONTINUING MULTIPLE CHANGES
TO REGULATORY BACKDROP, COMPANY IS CURRENTLY RESTRICTED FROM
UPSTREAMING CASH FUNDS FROM RUSSIAN SUBSIDIARIES 
    * THERE IS A RISK THAT COMPANY WILL NOT HAVE SUFFICIENT
LIQUIDITY
AVAILABLE AT RELEVANT TIME TO FUND PAYMENTS REQUIRED FOR BONDS
REDEMPTION
    * FAILURE TO PAY AMOUNTS DUE UNDER REDEMPTION BY JUNE 14,
2022
WOULD RESULT IN AN EVENT OF DEFAULT UNDER TERMS OF BONDS AND
WOULD TRIGGER A CROSS-DEFAULT ON OTHER GROUP’S LIABILITIES




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