/KASE, August 18, 10/ - Almaty-based Doszhan temir zholy (DTZ) informed
Kazakhstan Stock Exchange (KASE) the company delayed pay of the fifth
coupon interest on infrastructure bonds KZ2CKY23B672 (KASE, second
subcategory of Non-rated debt securities, DTJLb1; KZT1,000, KZT30.0 bn;
02.08.05 - 02.08.28, semiannual coupon indexed to inflation rate, 8.85 % APR
as for the reporting coupon period, 30/360).
According to the prospectus of the bonds DTZ had to pay the interest in the
period August 2 through August 13, 2010. The prospectus says "in case of
default the Company will pay bondholders a fine for each day of delay on the
official refinance rate of the National Bank as on the day of fulfillment of
obligations".
DTZ informed of the following:
Quotation begins
DTZ is notifying Kazakhstan Stock Exchange on impossibility to comply with the
prospectus of infrastructure bonds (NIN KZ2CKY23B672) in part of obligations
on pay of interest for the fifth coupon period (August 2009 - August 2010)
through shortage of funds.
Currently under the government-approved financing scheme Samruk-Kazyna is
considering a possibility to consequently allocate funds from the YY2010-2012
republican budget to DTZ for servicing the debt.
DTZ is taking all possible steps to find funds and consequently pay coupon
interests.
Ends
Related links:
- KASE news of August 17, 2010 "ATFBank: DTZ defaults on bonds
KZ2CKY23B672 (DTJLb1)" -
http://www.kase.kz/en/news/show/1113275
- KASE news of August 11, 2010 "ATFBank: DTZ delays pay of 5th coupon on
bonds KZ2CKY23B672 (DTJLb1)" -
http://www.kase.kz/en/news/show/1112738
Currently eleven companies listed on KASE informed of insolvency to fully or
partially comply with obligations on their bonds. The list of listing companies,
that admitted default on bonds, is available at the KASE website at section
"Issuers" ("default") at
http://www.kase.kz/en/emitters
KASE reminds in accordance with the internal document "Rules on Release of
Exchange Information" it does not assume responsibility for accuracy of the
information it spreads in regard of KASE members and issuers listed on KASE, if
such information is based on messages and documents, received from such
members and issuers in pursuance with their obligations before the Exchange. At
generation of such information KASE does not check accuracy of the messages
and documents. The person, willing to disprove the information released in this
message, must address to KASE with a corresponding official letter.
[2010-08-18]