Agrokor's PIK 'time bomb' grows

摘要

A ballooning payment-in-kind loan is threatening to tip over Croatian retailer AGROKOR, as bond investors pore over the Byzantine accounts of the country's largest private company. The value of the PIK has plummeted as low as 25 cents as confidence in the company's ability to repay the instrument has evaporated. One banker described the PIK as a "time bomb".