OREANDA-NEWS. July 14, 2009. Astana-Finance (Astana) informed Kazakhstan Stock Exchange (KASE) the company is delaying payment of the second coupon interest on indexed to devaluation of tenge to dollar bonds KZP07Y02C531 (official list of the special trading floor of the Regional Financial Center of Almaty, first subcategory of Non-rated debt securities, aASFIb21; KZT100, KZT1,250.0 m; 26.06.08 - 26.06.10, semiannual coupon 8.137 % APR; 30/360), reported the press-centre of KASE.

According to the prospectus of issue of the bonds Astana-Finance had to pay the principal and the interest in the period June 26 through July 9, 2009. The prospectus specifies "in case the Issuer defaults on any sum, which they must pay on bonds in accordance with the prospectus in the terms set, the Issuer must pay bondholders the principal and fine for each day of delay, calculated on the basis of the official refinance rate of the National Bank as on the day of compliance with the money obligations or a part thereof".

Astana-Finance informed in a letter:

Quotation beginning

Astana-Finance informs that according to the press release dated May 19, 2009 the company will not pay coupon interest on the following securities related to international loans: ... bonds of the seventh issue within the frames of the sixth bond program (NIN KZP07Y02C531).

An additional note will be issued to inform on the terms of redemption of debt on coupons and the principal on the bonds after the debt restructuring plan is approved.

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Earlier KASE released news on May 19, 2009 "/RESTATED/ ASTANA-FINANCE (KAZAKHSTAN) AND ASTANA FINANCE B.V. (NETHERLANDS) SUSPENDS MAY 15 PAYMENT OF COUPON INTEREST AND PRINCIPAL ON INTERNATIONAL OBLIGATIONS AND PRINCIPAL ON LOCAL OBLIGATIONS"
- http://www.kase.kz/en/news/show/1074162

At the time being eleven companies, listed on KASE, informed on insolvency to partially or fully comply with obligations on bonds. The list of companies defaulted on bonds is available at the KASE website at section "Issuers" ("default") at: http://www.kase.kz/en/emitters