OREANDA-NEWS. September 14, 2009. Kazakh distribution company (Almaty) informed Kazakhstan Stock Exchange (KASE) the company delayed payment of the fifth coupon interest on bonds KZ2C0Y03C387 (KASE, second subcategory of Non-rated debt securities, KZDKb1; KZT1,000, KZT1.0 bn; 01.03.07 - 01.03.10, semiannual coupon indexed to inflation rate, 11.00 % APR as for the reporting coupon period; 30/360), reported the press-centre of KASE.

According to the issue prospectus Kazakh distribution company had to pay the coupon interest in the period September 1 through September 14, 2009. The prospectus specifies "in case of default or partial default on interest or principal payment at fault of the Issuer, the Issuer must pay bondholders a principal and  fine for each day of delay, based on the official refinance rate set by the Kazakhstan National Bank as on the day of compliance with obligations".

Kazakh distribution company informed "coupon payment matter will be considered by the Board of Directors of September 15, 2009."

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