/KASE, March 16, 15/ – Kazakhstan Kagazy JSC (Almaty region), whose bonds
are officially listed on Kazakhstan Stock Exchange (KASE), has by an official
letter informed KASE of a delay in payment of the eighth coupon interest on its
bonds KZ2C0Y20D116 (KZ2C00000255, KKAGb4, KZT117.87; KZT12.0 bn;
August 29, 2008 – February 25, 2028, semi-annual coupon 13.00 % APR,
30/360).
According to the issue prospectus of the mentioned bonds Kazakhstan Kagazy
was due to pay the mentioned interest in the period from February 25 to March
12, 2015.
Kazakhstan Kagazy in its letter says as follows:
quote
Kazakhstan Kagazy announces non-payment of coupon interest in SAPF JSC
on bonds NIN KZ2C0Y20D116 (KKAGb4) to the amount of KZT63,974,508.76
due for the eighth coupon period before March 12, 2015.
Payment failed due to a difficult situation on the market of corrugated
packaging materials of Republic of Kazakhstan following activation of Russian
producers of corrugated packaging and worsening current liquidity caused by a
sharp fall in the Company's revenues.
Kazakhstan Kagazy JSC plans to ask for a postponement of payment from
SAPF JSC until March 31, 2015.
unquote
The list of listed companies committed default on their bonds is available on
KASE website in section "Instruments and their issuers" – "CS issuers" (tab
"Default") at
http://www.kase.kz/en/emitters
[2015-03-16]