OREANDA-NEWS. November 12, 2009. Alliance Bank (Almaty) informed Kazakhstan Stock Exchange (KASE) by the official letter on delay of the fourth coupon interest payment on its subordinated bonds KZPC7Y07B579 (KASE official list buffer category, ASBNb10; KZT1,000, KZT7.0 bn; November 8, 07 - November 8, 14, the semi-annual coupon 9.75 % APR; 30/360), reported the press-centre of KASE.

According to the bonds issue prospectus Alliance Bank had to pay the interest on November 9, 2009. The prospectus specifies that "in case of default on payment or incomplete payment at fault of the Issuer of coupon interest and/or the principal in the terms set with the Prospectus, the Issuer shall pay bondholders fines for each day of delay, on the basis of the official refunding rate of the National Bank of the Republic of Kazakhstan as of the day of money obligation or its part fulfillment".

In the letter Alliance Bank informed that:

Hereby Alliance Bank (hereinafter - the bank) informs that on November 8, 2009 the bank did not pay the coupon interest on bonds within the first bond program seventh issue (NIN KZPC7Y07B579) due to the effect of Almaty City Specialized Financial Court #2-21/2009 of September 18, 2009 on Alliance Bank restructuring in compliance with which the bank creditors requirements fulfillment was suspended, obligations to which will be restructured. The mentioned issue bank bonds re liable to restructuring.