/KASE, November 19, 08/ - ATFBank (Almaty), a representative of holders of
infrastructure bonds KZ2CKY13B996 (KASE official list, the second
subcategory of the Non-rated debt securities category, BTTRb1; KZT100,
KZT18,830.0 m.; 30.03.06 - 30.03.19, annual coupon indexed to inflation rate,
19.20 % APR as for the current period, 30/360) of Batys tranzit (Almaty, further -
the company), informed Kazakhstan Stock Exchange in an official letter on
conduct of analysis of financial standings of the company as on October 1, 2008.
In the opinion of the representative of bondholders, and in accordance with the
analysis of financial standings of the company as on October 1, 2008, taking into
consideration appreciation of the project, including increase of financial load on
payment of coupon interest on bonds, it is likely to suggest the company
experiences possible shortage of funds for payment of coupon interest in Q1
2009. The total amount of the money available at company accounts and the
sum, which may be received from placement of unplaced authorized
infrastructure bonds, equals to about KZT1.1 bn., at the same time the proposed
size of coupon interest for Q3 will approximately total KZT3.4 bn. In case the
company is not able to raise necessary funds for payment of the annual coupon
interest on bonds in the terms specified by the bond issue prospectus, the
company will be announced default, and the state security mechanism
implementation procedure will be initiated.
The certificate of the check is available at the KASE website
at:
http://www.kase.kz/files/emitters/BTTR/bttr_akt011008.pdf
Links to related documents:
- KASE news ATFBank informs on shortage of funds at Batys trazit for
payment of upcoming coupon on bonds KZ2CKY13B996 (BTTRb1) -
http://www.kase.kz/ru/news/show/1060315
- Letter No. 07.2.15/10344 of ATFBank dated November 13, 2008 -
http://www.kase.kz/files/emitters/BTTR/bttr_atfb_131108.pdf
[2008-11-19]