Hungary’s BTel Misses Bond Payment Deadline

  • 3 Mar 2015 8:00 AM
Hungary’s BTel Misses Bond Payment Deadline
Business Telecom (BTel) failed to pay the principal and interest on its bonds expiring on February 12, the company announced on the stock exchange website.

Information on the payment will be given after the AGM, to be held on March 20.

The AGM will decide on a possible Ft 700 million capital injection from a new investor, who is reportedly ready to lend an additional Ft 800 million.

BTel announced on December 30 that Skillinvest, a company owned by Timur Rahimkulov, was going to make a capital increase of Ft 950 million. However, Rahimkulov cancelled the deal.

Source: Hungary Around the Clock

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