Ozon to Buy Back Bonds at 35% Cut in Restructuring (Correct)

Ozon Holdings Plc, the Russian e-commerce platform, is offering to buy back its convertible dollar bonds at a 35% discount as part of a restructuring agreement forced by the halt of the trade of its stock from a US exchange.

The firm’s $750 million of convertible bonds due in 2026 became repayable earlier this year after the trading of its shares on the Nasdaq was suspended after Russia’s invasion of Ukraine. Since then, it’s been negotiating with bondholders a solution, as the company had most of the funds stuck in Russia.

On Friday, Ozon announced an agreement to pay ...