The Polish retailer Redan will have to buy-back its C-series bonds before their due date, after breaking its financial obligation which was outlined in the prospectus. The value of the outstanding bonds is PLN 49,000, according to the company’s official filing. The decision was made by the company’s bondholders this week, following the release of Redan’s 2013 financial results. Redan is obligated to repurchase the bonds within the next 60 days.
Redan posted PLN 476,890 in consolidated sales in 2013, up from PLN 444,366 in 2012. The company closed 2013 with a net profit of PLN 3,357.
