/KASE, March 11, 09/ - Kazneftehim (Almaty) informed Kazakhstan Stock
Exchange (KASE) by the official letter on delay of payment of the eighth coupon
interest on its bonds KZ2CKY05B273 (KASE official list, the second subcategory
of "Non-rated Debt Securities", KZNHb2; KZT1, KZT4.0 bn.; February 18, 05 -
February 18, 10, the semi-annual coupon 10.00 % APR; 30/360).
According to the mentioned bonds issue prospectus Kazneftehim must pay this
interest on February 18-20, 2009. If non-payment of the interest on mentioned
bonds will last more than 15 days, bonds holders can "by written notice of
Kazneftehim and the Registrar announce bonds as liable to immediate
repayment".
In the letter Kazneftehim informed in the following:
Quotation start
... considering untimely inflow of funds from oil export we have to request the
delay of repayment of the coupon interest to all holders in compliance with the
holder register - not earlier than March 30, 2009.
We kindly ask you to understand current problems of the company given financial
instability and the liquidity decline of the oil and gas sector economic
subjects.
We guarantee complete fulfillment of financial obligations on repayment of the
coupon.
Quotation end
Previously on this topic was published KASE news of February 23, 2009
"Kazneftehim (Kazakhstan) delays payment of the 8th coupon on bonds
KZ2CKY05B273 (KZNHb2) till March 10, 2009" -
http://www.kase.kz/en/news/show/1068757
At present six companies, securities of which are present in KASE official list,
informed on inability to fully or partially fulfill their obligations on bonds.
Listed companies defaulted payment on bonds is available on KASE website in
section "Issuers" ("default") at address
http://www.kase.kz/en/emitters
KASE reminds that in compliance with the Exchange internal document "Rules of
Exchange Information Dissemination", KASE is not responsible for authenticity of
disseminated information on the Exchange members and securities issuers,
admitted to circulation on the Exchange, if this information is based on messages
and documents received by the Exchange from these members and securities
issuers in pursuance of their obligations to the Exchange. KASE does not validate
the mentioned messages and documents when developing this information.
Individuals, willing to refute the information, published in this message, must
apply to KASE by a corresponding official letter.
[2009-03-11]