Furshet works to restructure local bond issues

Interfax reported yesterday that Ukrainian retailer Furshet has partially accelerated its UAH 30 mln Series C local bonds due on April 15, 2009 without providing further details. According to Interfax, Furshet is also conducting negotiations with holders of its UAH 150 mln Series D bonds, which mature on Nov. 16, 2010. In March, Furshet redeemed its UAH 30 mln Series B issue on time and in full. Furshet is the second largest domestic Ukrainian retailer; as of end-2008 it controlled 110 supermarkets in Ukraine and nine in Moldova.