/KASE, May 10, 11/ - Almatytemir (Almaty) has by an official letter informed
Kazakhstan Stock Exchange (KASE) that it delays payment of a seventh coupon
interest due on bonds KZ2C0Y05C788, KZ2C00001493 (KASE official list, second
sub-category of Non-Rated Debt Securities category, ALTMb1; KZT1, KZT2.0 bn;
November 1, 2007 - November 1, 2012; semi-annual coupon 12.00 % APR; 30/360).
According to the said bonds' issue prospectus, Almatytemir is due to pay that
interest from May 3 to 17, 2011.
In its letter, Almatytemir says the following:
quote
Almatytemir announces that due to untimely cash inflows from counteragents and
debtors, the company cannot pay next semi-annual coupon on Almatytemir bonds in
full and on time, i.e. not later than May 16, 2011.
The company negotiates with second-tier banks over short-term loan funding to
cover the existing cash gap and settle outstanding interest payments.
In case of impossibility to raise bank money for the mentioned purposes in
reasonable time, the company will make best efforts to completely repay the
debt, not later than the date of next semi-annual interest payment due on the
company's bonds.
unquote
The list of companies which committed default on their bonds is available on
KASE website, in section "Issuers" (tab "default"), at
http://www.kase.kz/ru/emitters
KASE reminds in accordance with 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.
Persons, willing to disprove the information released in this message, must
address to KASE with a corresponding official letter.
[2011-05-10]