пятница, 18 марта 2011 г.

Investors are tired of waiting

http://rumafia.com/news.php?id=70

From September 2009 six claims amounted at 214.4 million rubles have been filed against the company "Mirax Group", "Moynt" and ZAO "IC" Stroymontazh”. Among the plaintiffs there is Surgutneftegazbank, Gazenergoprombank, Maritime Joint Stock Bank, ZAO "AMK"Finance", First Republic Bank and Managing Company “RFC Capital”. Mirax Group is the issuer of three-ruble bonded loans, and "Moynt” and “IC Stroymontazh” are the coborrowers. In 2006 "Mirax" released a loan for 3 billion rubles, and in 2009 - another two for 1.8 billion rubles for the restructuring of the previous loan. An outstanding loan was about 1.8 billion rubles, as the sources close to the company and its creditors told earlier.

Now the total debt of Mirax Group is about $ 550 million, including $ 193 million the company is due to the banks ( $ 40 million overdue), about $ 60 million – for the ruble bonds (overdue $ 31 million), and $ 236 million (overdue by $ 6 million) – for the credit notes. In 2010, the developer must pay off to the creditors $ 297 million. PR-director of Mirax Irina Bartnovskaya had previously told that the company was going to receive funds from the sale of existing 400 000 square meters of offices and housing of various stages of readiness worth of $ 1.6 billion. According to the certificate provided by Mirax, it has 160 000 square meters in the tower "Federation", 75 000 square meters in the office complex Mirax Plaza, 45 000 square meters in the residential facility "Rublevskaya Riviera", 45 000 square meters - RC “Well House” on Dubrovka, 33 500 square meters - RC "Kutuzovskaya milya", etc. Previously Mirax had stated that it had about 30 000 square meters of unsold space in the readymade tower "Federation", and promised to build another 90 000 square meters. As they reported in the sales center of the developer to “Vedomosti”, there was no area for sale in the ready-made building Mirax Plaza, and the project under construction was to be commissioned in late 2011 - early 2012. Sales of "Rublevskaya Riviera», “Well House” on Dubrovka, and " Kutuzovskaya milya " had not been started then as the projects were on early stage of construction, the sales center reported. It turns out that, according to rough estimates, the Mirax has no more than 60 000 square meters of ready areas. A source close to shareholders of Mirax confirms this also. But according to Dvorkovich, the company is ready to submit a plan of debt restructuring, after which the construction works on a number of objects will be recurred. "There is no sense to buy areas in newly constructed office complexes”.

Source: Vedomosti »№ 62 (2580) on 08.04.2010

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