Polish company Aforti Holding has announced that it cannot reimburse the main and last coupon related to bonds worth 2 million lei listed on the Bucharest Stock Exchange (BVB), due on September 4, 2025 and carriers of an annual interest of 10%. The issuer transmitted by a current report that the restructuring procedures in Poland, which have priority from the insolvency procedures, are underway. At the same time, the company states that bankruptcy procedures have been opened, but they cannot advance until a final decision on the restructuring plan. Aforti Holding, which offers financial and administrative consultancy for micro-enterprises and SMEs, attracted the amount of 2 million lei through a private placement carried out in September 2020, when it sold 20,000 non-unsecured and non -ubordinated bonds, with a nominal value of 100 lei. The show was subscribed by 44 investors, and the listing on the BVB multilateral trading system took place on October 12, 2021, with the support of the Goldring Brokerage House. The non -payment of the obligations marks one of the few situations of default on the Romanian capital market in recent years and raises question marks on the appetite of individual investors for corporate bonds with high yields, but with higher credit risk. For investors, the following steps will depend on the decision of the Polish courts regarding the restructuring plan and the possible measures to recover the debts. According to the Polish legislation, the restructuring procedure is prior to bankruptcy, which means that it will first try to establish an arrangement with the creditors before the company's liquidation.
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