/KASE, December 4, 08/ - Transstroimost (Almaty Region) addressed to
Kazakhstan Stock Exchange (KASE) the official letter of December 2, 2008
# 2104, where explains reasons of untimely fulfillment of obligations to holders
of its bonds KZ2CKY05B950 (KASE official list, the first subcategory of "Non-rated
Debt Securities", TSSMb1; KZT100, KZT5.0 bn.; April 6, 06 - April 5, 11, the
semi-annual coupon indexed on the inflation rate, 12.00 % APR for the reporting
period) for the period from April 6 to October 6, 2008.
According to the letter at present the government budget debt to Transstroimost
on constructed objects in various regions of Kazakhstan makes up "about KZT5.0
bn., including KZT2.2 bn. debt of Almaty City Construction Department". This fact
is being considered by the mentioned bonds issuer as the main reason of
obligations non-fulfillment to investors.
The letter contains the information that "Almaty City Construction Department"
included Transstroimost into the payment plan for the first half of December, and
due to this the company leadership will make every effort to pay off the debt to
bonds holders till the end of December 2008.
The mentioned letter of Transstroimost is available on KASE website at
http://www.kase.kz/files/mix/letter_tssm_021208.pdf
References to similar documents:
- KASE news of October 20, 2008, Transstroimost (Kazakhstan) delays
payment of the 5th coupon on bonds KZ2CKY05B950 (TSSMb1)" -
http://www.kase.kz/news/show/1058572
- KASE news of November 17, 2008, Transstroimost (Kazakhstan) partially
paid the 5th coupon on bonds KZ2CKY05B950 (TSSMb1)" -
http://www.kase.kz/news/show/1060489
[2008-12-04]