Ozon Holdings PLC - ADR

NASDAQ:OZON   3:59:54 PM EDT
11.54
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Debt Financing / Related

Russia's Ozon Warns About Potential Default On Bonds

Published: 05/27/2022 05:39 GMT
(OZON) - 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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