OREANDA-NEWS. On August 17, 2009 ATFBank (Almaty), a representative of holders infrastructure bonds KZ2CKY23B672 (KASE official list, second subcategory of Non-rated debt securities, DTJLb1; KZT1,000, KZT30.0 bn; 02.08.05 - 02.08.28, annual coupon indexed to inflation rate, 19.95 % APR as for the reporting coupon period, 30/360) of Doszhan temir zholy (DTZ) (Almaty), informed Kazakhstan Stock Exchange (KASE), reported the press-centre of KASE:

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... As the regular coupon payment period ended August 14, 2009 and the Issuer on expiry of this term paid no coupon interest on infrastructure bonds (NIN KZ2CKY23B672), we inform of default of Doszhan temir zholy (DTZ).

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According to the prospectus of issue of the bonds Doszhan temir zholy (DTZ) had to pay the coupon interest in the period August 1 through August 14, 2009. The prospectus specifies "in case of default the Company will pay holders a fine for each day of delay at the official refinance rate set by the National Bank as on the day of obligations.

The bonds were issued by Doszhan temir zholy (DTZ) with a purpose to receive money for implementation of the Shar - Ust-Kamenogorsk railway project.