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2010 February 2   10:32

RVK-Finance freezes payments of dividend, troubled by financial pressure

RVK-Finance (SPV-company of Far East Transport Group) failed paying out income on the fifth coupon bonds of 01 series, the company statement said. According to its financial plan the RVK-F was to pay on February 2, 2010 11.101.520.40 rubles (72.30 rubles per security). The failure to comply with the obligations is primarily associated with accounts receivable of the company, amounted in the FETG to 220.977.000 rubles, including 148.462.000 rubles o overdue accounts receivable.

FET Group is a major rail operator. The company integrates enterprises engaged in transportation of liquid bulk, container, bulked freight and general cargoes on local and international markets by its own and leased rolling stock.

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