MOSCOW, July 7 (Reuters) - Russia’s mid-sized International Industrial bank (IIB), controlled by businessman Sergei Pugachev, defaulted on 200 million euro Eurobond due in 2010, the bank said late on Tuesday.
Pugachev, who also represents Siberia’s Tuva Republic in the Federation Council upper house of parliament, has already agreed to sell some of his assets as part of a deal restructuring 32 billion roubles in debt of IIB to the central bank.[ID:nLDE665100]
“In particular, a limited extension of the maturity of the defaulting notes is one of a number of measures the Company is considering,” the bank said in the statement obtained by Reuters.
Reporting by Dmitry Sergeyev
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