Private Asset Management reports delay of payment by SAT & Company of 13th coupon on bonds KZ2C0Y14C822 (KZ2C00001360, SATCb1)

15.07.15 17:58
/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 [2015-07-15]