Corporate Ukraine Rocked by Missed Payment: East Europe Credit
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Ukrainian businesses are being punished by bond investors after restructuring plans by Mriya Agro Holding Plc sparked an exodus from the market.
Company Eurobonds tumbled 7.6 percent in the three days through yesterday, the worst loss among 55 nations in the Bloomberg Dollar Emerging Market Corporate Bond Index. Notes due April 2018 from Ternopil, Ukraine-based Mriya led the selloff with a 41 percent drop after the farming group said on Aug. 1 it had missed debt payments and was seeking to revamp its business.