/IRBIS, Dinara Mukasheva, October 1, 08/ - ALE " Kazakhstan financiers
association" provided Kazakhstan Stock Exchange (KASE) with the copy of
joint letter # 1/1 of APF Kazakhmys JSC, APF BTA Kazakhstan JSC,
Subsidiary of TuranAlem Bank JSC, APF CAPITAL JSC - subsidiary of
Bank CenterCredit JSC, OAPF OTAN JSC, PIAMO Zhetysu JSC, dated
September 19, 2008 to the President of Republic of Kazakhstan, Prime-
minister and the number of the head of cross-sectional ministries and
departments on issuer's default in the time of coupon payment on
infrastructural bonds KZ2CKY23B672 (KASE official list, the second sub-
category of category "Non-rated debt securities"; DTJLb1; KZT1 000,
KZT30.0 bn.; 02.08.05 - 02.08.28 annual coupon indexed on inflation rate
19.95 % APR as for the current coupon period; 30/360) of Doszhan Temir
Zholy (DTZ) JSC (Almaty).
The mentioned bonds were purchased by 9 pension funds of Kazakhstan
and other investors.
The core of the letter is the last paragraph, which is supplied below.
"By virtue of abovementioned and taking into account the social value of this
problem, inadmissibility of state pension system discredit and investors`
interest in further realization of such projects and softening of negative
consequences of announced default we decisively ask you to solve this
problem and take all necessary measures of state influence for protection of
legal rights and interests of coupon bonds holders of Doszhan Temir Zholy
JSC and depositors of accumulative pension funds and retaining trust in
pension system of Republic of Kazakhstan in the whole".
The copy of the letter is available at KASE website at
http://www.kase.kz/mix/dtjl_190908.pdf
Remind that August 18, 2008 ATFBank JSC (Almaty), acting as the
representative of holders of infrastructural bonds KZ2CKY23B672 of the
company informed KASE by the official letter that during regular annual
coupon payment on mentioned bonds, finished on August 15, 2008 Doszhan
Temir Zholy (DTZ) JSC hadn't paid this coupon, what tells about default of
Doszhan Temir Zholy (DTZ).
September 3, 2008 ATFBank JSC sent demand in the Ministry of Finance of
Republic of Kazakhstan due to mentioned default.
September 26, 2008 Doszhan Temir Zholy (DTZ) informed KASE by the
official letter on actions of the issuer for coupon interest payment on
mentioned bonds for the period from August 2, 2007 till August 2, 2008.
September 29, ATFBank JSC informed KASE by the official letter on the
meeting of holders of all mentioned bonds for deciding on further joint plan of
event. According to ATFBank JSC, the meeting will take place at ALE
Kazakhstan financiers association on October 1, 2008 at 4:00 p.m.
[2008-10-01]