/KASE, February 24, 10/ - BTA Bank (Almaty) informed Kazakhstan Stock
Exchange (KASE) - TuranAlem Finance B.V. (Roterdam) will delay payment of
coupon interest on international bonds XS0211873053 (KASE, 'buffer category',
BTASe5; USD350.0 m; 10.02.05 - 10.02.15; semiannual coupon 8.50 % APR,
30/360).
According to the bond issue circular TuranAlem Finance B.V. had to pay the
interest on February 10, 2010.
BTA Bank informed:
Quotation begins
Herewith we inform on February 10, 2010 TuranAlem Finance B.V. failed to pay
coupon interest on Euro bonds (ISIN XS0211873053, ...), after a decision to
suspend interest payment beginning July 22, 2009 had been made.
As on February 10, 2010, 313,000 Euro bonds of the issue were placed for a
total of USD313,000,000.
Ends
Earlier KASE released related news on July 27, 2009 "Kazakh BTA Bank holds a
Creditors' meeting and temporarily suspends beginning July 22, 2009 interest
payment on financial liabilities" -
http://www.kase.kz/en/news/show/1079467
Currently twelve companies listed on KASE informed of insolvency to fully or
partially comply with obligations on their bonds. The list of listing companies,
that admitted default on bonds, is available at the KASE website at section
"Issuers" ("default") at
http://www.kase.kz/en/emitters
KASE reminds in accordance with the 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. The person, willing to disprove the information released in this
message, must address to KASE with a corresponding official letter.
[2010-02-24]