Buzgul Aurum announces temporary default on bonds KZP01Y05F308 (KZ2P00003627, BUZAb1)

20.10.17, 17:57
/KASE, October 20, 2017/ – Buzgul Aurum (Almaty), whose bonds KZP01Y05F308 (KZ2P00003627, KASE alternative market, category "bonds", BUZAb1; KZT10,000, KZT15.0 bn; October 6, 2016 – October 6, 2021; fixed annual coupon, 19.00 % APR; 30/360) are officially listed on Kazakhstan Stock Exchange (KASE), due to the expiration of the deadline of the first coupon payment on these bonds, has informed KASE about the following: quote ... litigation over recovery of money written off from Buzgul Aurum between Buzgul Aurum and AsiaCreditBank involving the Single Accumulative Pension Fund is underway. Up until the end of the litigation Buzgul Aurum will be unable to meet its obligations under the bond program. Should the claim be successful and the money recovered, we will inform you additionally on the possibility of fulfillment of bond programs. In our turn, we'd like to inform you that Buzgul Aurum intends to meet its obligations under the bonded loan and the undue performance of the above-mentioned obligations occurred beyond the control of Buzgul Aurum. Buzgul Aurum undertakes all measures provided for in the laws of the Republic of Kazakhstan to restore its rights and interests, as well as rights and interests of third parties, including holders of Buzgul Aurum bonds. unquote [2017-10-20]