OREANDA-NEWS. On November 19, 2008 ATFBank (Almaty), a representative of holders of infrastructure bonds KZ2CKY13B996 (KASE official list, the second subcategory of the Non-rated debt securities category, BTTRb1; KZT100, KZT18,830.0 m.; 30.03.06 - 30.03.19, annual coupon indexed to inflation rate, 19.20 % APR as for the current period, 30/360) of Batys tranzit (Almaty, further - the company), informed Kazakhstan Stock Exchange in an official letter on conduct of analysis of financial standings of the company as on October 1, 2008, reported the press-centre of KASE.

In the opinion of the representative of bondholders, and in accordance with the analysis of financial standings of the company as on October 1, 2008, taking into consideration appreciation of the project, including increase of financial load on payment of coupon interest on bonds, it is likely to suggest the company experiences possible shortage of funds for payment of coupon interest in Q1 2009.

The total amount of the money available at company accounts and the sum, which may be received from placement of unplaced authorized infrastructure bonds, equals to about KZT1.1 bn., at the same time the proposed size of coupon interest for Q3 will approximately total KZT3.4 bn.

In case the company is not able to raise necessary funds for payment of the annual coupon interest on bonds in the terms specified by the bond issue prospectus, the company will be announced default, and the state security mechanism implementation procedure will be initiated.