/KASE, August 19, 09/ - Doszhan temir zholy (DTZ) (Almaty) informed
Kazakhstan Stock Exchange (KASE) the company delayed payment of the fourth
coupon interest on infrastructure bonds KZ2CKY23B672 (KASE official list,
second subcategory of Non-rated debt securities, DTJLb1; KZT1,000, KZT30.0
bn; 02.08.05 - 02.08.28, annual coupon indexed to inflation rate, 19.95 % APR as
for the reporting coupon period, 30/360).
According to the prospectus of issue of the bonds Doszhan temir zholy (DTZ) had
to pay the coupon interest in the period August 1 through August 14, 2009. The
Prospectus specifies "in case of default the Company will pay holders a fine for
each day of delay at the official refinance rate set by the National Bank as on
the day of obligations ".
Doszhan temir zholy (DTZ) informed:
Quotation beginning
Currently Doszhan temir zholy (DTZ) is working with shareholders to make
decisions on financing within the frames of order of National wellbeing fund
Samruk-Kazyna for purposes of further implementation of project "Construction
and operation of new railway "Shar-Ust-Kamenogorsk".
Herewith Doszhan temir zholy (DTZ) is notifying Kazakhstan Stock Exchange on
impossibility to comply with the prospectus of issue of infrastructure bonds
(NIN - KZ2CKY23B672) in part of compliance with obligations regarding payment
of the regular coupon interest, in connection with shortage of funds.
Currently the question of financing and its terms is under competence of
National wellbeing fund Samruk-Kazyna.
Quotation beginning
The bonds were issued by Doszhan temir zholy (DTZ) for purposes of receipt of
funds for implementation of the Shar-Ust-Kamenogorsk project.
The related links are:
- KASE news dated August 17, 2009 "ATFBank: Doszhan temir zholy (DTZ)
delays payment of 4th coupon on bonds KZ2CKY23B672 (DTJLb1)" -
http://www.kase.kz/en/news/show/1081033
- KASE news dated August 13, 2009 "ATFBank informs on steps Doszhan
temir zholy takes to avoid default on payment of 4th coupon on bonds
KZ2CKY23B672 (DTJLb1)" -
http://www.kase.kz/en/news/show/1080822
- KASE news dated August 4, 2009 "ATFBank informs Doszhan temir zholy is
short of money to pay 4th coupon on bonds KZ2CKY23B672 (DTJLb1)" -
http://www.kase.kz/en/news/show/1080122
By the time being sixteen companies listed on KASE, informed on insolvency
to fully or partially comply with obligations on bonds. The list of companies
defaulted on bonds is available at the KASE website in section "Issuers"
("default") at:
http://www.kase.kz/en/emitters
KASE reminds that according to its internal document "Rules on exchange
information disclosure" it incurs no responsibility for authenticity of the
information it spreads on KASE members and issuers admitted to circulation on
KASE, provided such information is based on messages and documents arriving from
such members and issuers in pursuance with obligations before KASE. At
generation of such information KASE shall not check authenticity of the
messages and documents. A person, willing to disprove the information released
in this message, must appeal to KASE with a corresponding official letter.
[2009-08-19]