/KASE, April 8, 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
KZP01Y20C023 (KZ2C00000263, KASE official list, "other debt securities"
category, KKAGb2) and KZP02Y22C027 (KZ2C00000271, KASE official list, "other
debt securities" category, KKAGb3).
Kazakhstan Kagazy JSC in its letter says as follows:
quote
Kazakhstan Kagazy announces non-payment of coupon interest on bonds NIN
KZP01Y20C023 (KKAGb2) to the amount of KZT39,029,041.50 and bonds NIN
KZP02Y22C027 (KKAGb3) to the amount of KZT38,760,378.75 due for the eight
coupon period until April 7, 2015.
Also we inform you that Kazakhstan Kagazy JSC failed to make a payment by the
deferral date of payment on the earlier committed default on bonds NIN
KZ2C0Y20D116 (KKAGb4) to the amount of KZT63,974,508.76 due for the eight
coupon period. As was announced earlier, Kazakhstan Kagazy JSC asked the
Single Accumulative Pension Fund for a delay in payment until March 31, 2015.
A complicated economic situation on Kazakhstan's corrugated package market
following vitalization of Russian producers of corrugated package continues to
negatively affect operating results of the Company's activities and the
possibility to timely offset debts. Currently, the Management undertakes all
possible actions to reduce the negative impact of these conditions on the
Company.
unquote
The listed companies which committed default on their bonds are available for
viewing on KASE website in section "Instruments and their issuers" – "CS
issuers" (tab "Default") at
http://www.kase.kz/en/emitters
[2015-04-08]