Wednesday, June 1, 2011

«Mirax Group» trying to avoid bankruptcy

The developer has met with the bondholders. «Mirax Group» owed more than $ 593 million, of which $ 390 million accounted for Eurobonds and Bonds. To resolve the problem of debt repayment, the company's representatives met with holders of its securities. Top managers have asked those present perevlozhit existing securities into new maturity period which shall not exceed 8 years, and the yield is 7% per annum. If «Mirax Group» saved from bankruptcy does not, then investors will receive unfinished objects, which are much cheaper than invested funds and their further maintenance will require significant expenditures. Invited to the meeting criticized the management of the corporation for such a situation. The developer intends to continue negotiations on debt restructuring during the year. Corporation «Mirax Group» has been created by Arthur Kirilenko and Sergei Polonsky in 1994. During his tenure, she managed to build a set of objects of the business class, among them: "Kutuzovskaya Riviera», «Well House» and the "Golden Keys". The company's portfolio 24 projects with a total area of ??8,800,000 square meters, of which the construction phase there are 2 million square meters, which cost an estimated $ 5.5 billion

No comments:

Post a Comment