On September 30, O1 Properties Finance will hold a repeated meeting of owners of BO-01 series bonds in the amount of 15 billion rubles, the company said.
The date on which the persons entitled to exercise the rights under the issuer's securities are determined is September 18.
The company held its first meeting on September 7, when the bondholders did not make a single decision on the agenda of the meeting, and voted “against” on all items.
As reported, Mistorella Trading Limited, which owns all the voting shares of O1 Properties Finance, initially decided to extend the maturity of the bonds from October 2020 to September 26, 2025, and the bondholders were asked to approve this decision. In a material fact for September 14, it is reported that the shareholder has slightly shifted the maturity date and proposes to postpone the maturity date to September 27, 2024.
The agenda of the meeting will include issues on the election of a representative of the owners of exchange-traded bonds of the BO-01 series, on the granting of the representative of bondholders the right to independently make a decision on consent to the introduction of JSC “O1 Properties Finance” changes in the decision on the issue of exchange-traded bonds related to the scope of rights for exchange-traded bonds of the BO-01 series and the procedure for their implementation, as well as the waiver of the right to file a claim for early repayment of exchange-traded bonds of the BO-01 series
The BO-01 issue in the volume of 15 billion rubles was placed in October 2015 at the rate of 13% per annum. The maturity date of the loan is October 2, 2020.
Since 2018, O1 Properties Finance has made a series of defaults on its bond issues.
In June 2018, the owners of the company's bonds of series 001Р-01, 001Р-02 and 001Р-03 (total issue volume – 22 billion rubles) at the meeting did not accept the terms of restructuring the bonds.
The guarantee for the obligations of “O1 Group Finance” in the amount of placed issues of exchange-traded bonds was provided by O1 Group.
The observation procedure in relation to O1 Group Finance (part of the O1 Group of Boris Mints) was introduced on September 17, 2019 at the request of the Cyprus-registered company Delahassie Limited. Its claims, included in the register, amount to 1.5 billion rubles and also represent debt on bonds.
O1 Group Finance continues to sue over the legality of transactions with certain bond issues. In particular, on March 25, the company filed a cassation appeal with the Supreme Court of the Russian Federation against the decision of the lower courts to recover 19.3 billion rubles of bond debt from it in favor of the Trust Bank, it follows from the court's filing cabinet.
As reported, Otkritie Bank is challenging in court a number of transactions concluded by the bank with the structures of the O1 group immediately before the start of the reorganization. In particular, they talked about the acquisition of O1 Group Finance bonds in August 2017 by Otkritie. The bank purchased the securities of this company for 30 billion rubles.
In May 2018, the Central Bank of the Russian Federation announced the creation of a bank of non-core assets on the basis of Trust. Non-core assets of the rehabilitated Otkritie Bank, B&N Bank, Rost Bank and Avtovazbank, as well as part of the assets of Promsvyazbank (MOEX: PSKB) were transferred to its balance sheet.
The O1 Group, founded in 2004, owned and operated assets in the real estate and financial sectors. In early September 2018, it was announced that O1 Group Mints completed the transfer of O1 Properties and PJSC Future Financial Group (MOEX: FTRE) to the Cyprus investment company Riverstretch Trading & Investments Limited, which specializes in investments in development. On the market, Riverstretch is linked to the Region Investment Company.