Over PLN 0.6 bln of outstanding bonds in 2020

Another infamous record was set on the Catalyst market – the value of corporate bonds unpaid in 2020 exceeded 8% for the first time. the debt expiring at that time. And this is only a fragment of the perturbations observed on non-treasury papers in the past year.

Last year, companies listed on Catalyst did not repay bonds worth PLN 631.8 million. This amount is 8.2 percent of securities maturing at that time against around 2-3 percent in 2016-2019 and 7 percent in 2014, the worst so far. Last year, on average, every tenth series of expiring zloty debt ended with no redemption.

The securities of GetBack, which are still weighing heavily on the market statistics, were also joined this time by the arrangement bonds of PBG, which failed to cope with the recovery process that has been going on for years. It is enough to mention that only these two companies accounted for PLN 517.7 million of unpaid bonds on Catalyst in 2020. In addition, the bondholders 'adventure with Braster and Vivid Games' papers ended with no redemption (PLN 9.45 million and PLN 10.5 million respectively). The first of the companies gave individual investors a lesson on financing innovative entities with no revenues with debt. The second gave hope that, in certain circumstances, the restructuring law may fulfill its role (in recent days Vivid paid out overdue interest and the first of 12 arrangement installments).

(Puls BIznesu)