/KASE, July 15, 15/ – Private Asset Management JSC (Almaty), a
representative of the bondholders of SAT & Company JSC (Almaty) informed
KASE on the delay of payment by SAT & Company JSC of the 13th coupon on
bonds KZ2C0Y14C822 (KZ2C00001360, SATCb1, KZT100, KZT15.0 bn,
January 3, 2008 – December 3, 21, semi-annual coupon 9.40% APR for the
current coupon period, 30/360).
According to the prospectus of issue of these bonds SAT & Company JSC was
supposed to pay this interest in the period from July 3 to 13, 2015.
In the letter Private Asset Management JSC reports the following:
quote
... Private Asset Management JSC being a representative of holders of coupon
bonds (NIN KZ2C0Y14S822) issued by SAT & Company JSC (hereinafter – the
Issuer) pursuant to the Law of Kazakhstan "On securities market" and the Order
of the National Bank of the Republic of Kazakhstan dated February 24, 2012 No.
88 reports of default by the Issuer on its obligations to pay interest, the
default event.
The issuer was supposed to ensure the payment of the coupon on coupon bonds
before July 13, 2015 but committed a technical default (default on bonds – a
non- payment or partial payment of coupon interest during 15 (fifteen) calendar
days after the day following the date of the end of interest and principal
payment deadline according to the prospectus) not making the payment, and
notified us thereof via the written statement of July 14, 2015. The reason for
the default was late receipt of payment from the counterparty and/or
subsidiaries of the Issuer.
unquote
the listed companies with default on payment on bonds is available on KASE
website in the "Instruments and issuers" section - "Corporate Issuers"
("default" section) at
http://www.kase.kz/en/emitters
[2015-07-15]