GAZ Group says it has reached an agreement with bondholders to restructure 3.85bn roubles worth of bonds.
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In February, GAZ Group defaulted on a buyback offer for the bond issue. The bond issue was placed on February 14, 2006 through the company’s special purpose vehicle, GAZ-Finans, or GAZ Finance, Prime-Tass said.
Raiffeisenbank is handling the restructuring of the bond issue, the report added.
