/KASE, September 24, 09/ - Alliance Bank (Almaty) informed Kazakhstan Stock
Exchange (KASE) the bank delayed payment of coupon payment on bonds
KZP02Y07C960 (KASE, first subcategory of Non-rated debt securities, ASBNb12;
KZT1,000, KZT7.0 bn; 20.09.08 - 20.09.15, semiannual coupon 11.00 % APR;
30/360).
According to the bond issue prospectus Alliance Bank had to pay the interest on
September 21, 2009. The prospectus specifies "in case the bank delays payment
on interest and/or the principal on the bonds, beginning the day following the
last day of payment in favor of bondholders, fine will be accrued for each day
of delay, based on the official refinance rate set by the Kazakhstan National
Bank as on the day of compliance with obligations".
Alliance Bank informed:
Quotation begins
The actions are caused by the decision of the Special financial court of Almaty
No. 2-21/2009 dated September 18, 2009. According to the decision on
restructuring after it is effective, the bank suspended to comply with
requirements of Alliance Bank's creditors, obligations before which will be
restructured.
Ends
KASE earlier released news on September 22, 2009 "Almaty special financial
court approves Alliance Bank's debts restructure" -
http://www.kase.kz/en/news/show/1083801
At the time being sixteen companies, listed on KASE, informed on insolvency
to partially or fully comply with obligations on bonds. The list of listing
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.
[2009-09-24]