Wave of Defaults in Belarus

Ministry of Finance announced defaults on corporate bonds of several other companies.

Private enterprise Ulyanis, and ALC Baikal, failed to meet their obligations for the payment of bond yield, writes Belarusians and Market.

This was reported by the Ministry of Finance on April 25.

According to the Ministry of Finance, Vitsebsk private commercial and industrial unitary enterprise Uliyanis failed to meet its obligations. CJSC LEADERINVEST is the depositary of Ulianis. The bonds of the first issue were placed with the participation of the professional participant of the securities market Lacerta LLC, whose license was revoked in April 2021.

LLC Baikal failed to perform its obligations to pay the income for the 8th and 9th interest periods under the bonds with maturity dates from December 2019 to December 2024.

Both companies and their related parties are now prohibited from issuing bonds.

The Ministry of Finance has also recently reported on the default of AviaCity, the successor of which is Anritrade LLC. The company failed to fulfil its obligations for early redemption and payment of interest income on the bonds within the date specified in the decision on the bond issue.

Let us recall that in 2021, there was a large-scale wave of bond defaults in Belarus. According to the Ministry of Finance, at least ten issuers were unable to fulfil their obligations. For comparison, in 2018, the market knows about one fact of bond defaults.