Amber Beverage Group Holding S.à r.l., as the Issuer, states that CSC (Sweden) AB, acting as the Noteholders’ Trustee, submitted a notice of an Event of Default on 11 February 2026.
The terms and conditions of the Notes provide that the Issuer must, within 20 business days after receiving such notice from the Trustee, repay to all Noteholders the nominal value of the Notes together with accrued coupon interest and default interest.
The Issuer hereby informs that it has not made the payment of the Notes’ nominal value, accrued coupon interest, and default interest.
CORRECTION. The Issuer Amber Beverage Group Holding S.à r.l. issues the following additional details about this publication.
The Issuer is the majority shareholder of AS “Amber Latvijas balzams” (hereinafter – ALB), which is significantly integrated into the Group's financial structure as the main Guarantor and at the same time the Group's primary production unit. It is currently facing serious financial difficulties.
On January 30, 2026, ALB submitted an application to initiate legal protection proceedings (TAP), in response to the freezing of bank accounts and a significant deterioration in liquidity. On February 5, 2026, the court initiated a TAP, which qualified as an Event of Default under the Bond Terms, given ALB's status as a significant Guarantor.
This event served as the direct cause for the Group's financial creditors – bondholders – to exercise their rights, declaring an Event of Default and initiating a formal process to determine further actions. As a result, the Issuer's financial flexibility and ability to freely manage cash flows were significantly restricted.
In addition, the freezing of ALB's accounts and the substantial restriction of its operations, effectively paralyzed the Group's core activities – production, supplies, and settlements with partners. This situation directly affected the entire Group's, including the Issuer's, ability to generate revenue and ensure timely fulfillment of financial obligations.
Given the above, the non-payment of the bonds' nominal value and coupon interest is not an isolated or technical case, but a direct consequence of the aforementioned TAP process and the significantly worsened financial situation at the Group level.
Firstly, following the occurrence of the Event of Default and the publication of the official notice, a legally regulated process with strict deadlines was initiated, which significantly limits the company's freedom of action regarding payments to creditors.
Secondly, the Group currently lacks sufficient liquidity to cover the obligations that have already fallen due. This is a direct result of the cumulative impact of several extraordinary factors:
- geopolitical upheavals and the related sanctions and asset restrictions,
- a large-scale cyberattack with significant financial consequences,
- the insolvency of the main client (Stoli USA) and the sharp decline in production volumes,
- the downturn in the global strong alcoholic beverages market.
The combination of these factors created a critical cash flow deficit, which also led to the accumulation of tax liabilities and subsequent enforcement actions by Latvian authorities, including the freezing of bank accounts.
Therefore, the non-fulfillment of both coupon and the extraordinary Obligations principal payments is directly linked to the initiation of the TAP process, the restrictions on ALB's operational activities, and the significant deterioration in the Group's liquidity, rather than to selective or voluntary deferral of payments.
The Issuer is actively communicating with the Bondholders' Representative, as well as with the bondholders, including finding a solution to this situation.