MOSCOW, June 27 (RIA Novosti) - Dixis Trading, a Russian retail trade operator, said Tuesday it was putting on hold indefinitely its debut bond issue worth 1.8 billion rubles (about $66 million).
The initial date for the company to launch its bonds had been set for June 29.
"The new date of starting the placement of securities will be defined by a decision of the issuer's authorized body, and will be brought to the notice of the bonds' potential buyers no later than five days before a newly set date for the bonds' placement," the company said in a statement.
The mobile phone trader registered its bond issue with a maturity date of July 20, 2009 with the Federal Financial Markets Service on May 25, 2006.
The bonds carry six coupons with an interest rate of 11% per annum on the first and second coupons. The rates of the remaining issues will be defined by the issuer after the state registration of a report on the bonds' placement.
The trader intended to place bonds on the over-the-counter market at face value with a repurchase offer in 12 months' time.
Other Russian trade chains have also put on hold the placement of their securities due to unfavorable market conditions.
On Tuesday morning, the retail trade chain Kopeika announced it planned to suspend its initial public offering to wait for a more favorable market environment.
