Arca Capital defaulted on €25.5m bonds
- Vladimír Dohnal
- Aug 28, 2020
- 1 min read
Highly indebted Arca Capital defaulted on €25.5m bonds maturing on August 12. It admits it is late with their repayment and invited investors for a meeting to discuss options. By June it had already defaulted on €25-30m bills. Also in June, its €41m loan from Poštová banka was due and neither party would comment on its repayment. Arca’s sources of financing dried up during the pandemic. Arca Investment and its staffing agency, Edymax, requested bankruptcy protection in July. Talks with J&T on a lifeline have allegedly failed.
Slovaks invested €3bn into corporate bonds of various quality and Arca’s woes might dent their confidence.
Recent Posts
See AllThe €250,000 price of an apartment in Bratislava includes the cost of the land (€50,000) and the 5-year permitting process (€30,000),...
Volkswagen 's Bratislava plant tried to win production of the electric VW ID.1 model, but despite ranking well in internal VW plant...
Slovakia’s employment rate among the 20 to 64-year-olds rose to a record high last year and was higher compared to the EU’s average of...
