OREANDA-NEWS. December 30, 2009. Alliance Bank (Almaty) informed Kazakhstan Stock Exchange (KASE) by the official letter on delay of the sixth coupon interest on bonds KZPC5Y05B577 (ASBNb8; KZT1,000, KZT5.0 bn; December 26, 06 - December 26, 11, the semi-annual coupon 8.50 % APR; 30/360).

According to these bonds issue prospectus Alliance Bank was to pay this interest on December 28, 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:
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Hereby Alliance Bank (hereinafter - the bank) informs that on December 26, 2009 the bank did not pay the interest on the fifth issue bonds within the bank first bond program (NIN KZPC5Y05B577) due to the effect of Almaty Special Financial Court decision # 2-21/2009 of September 18, 2009 on Alliance Bank restructuring, according to which the Bank creditors claims satisfaction was suspended as these bonds are liable to restructuring.

In addition, in compliance with the restructuring plan from November 26, 2009 the Bank stopped adding the interest on bonds liable to restructuring. As of November 26, 2009 on the fifth issue bonds within the bank first bond program was added KZT177,083,333.33 of interest, offered 5,000,000 bonds, including
885,000 securities bought back by the bank.
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Previously KASE published the similar news of September 22, 2009 "Special financial court of Almaty approves Alliance Bank's debts restructure" -
http://www.kase.kz/en/news/show/1083801

At present ten companies, securities of which are present in KASE official list, informed on inability to fully or partially fulfill their obligations on bonds. Listed companies defaulted payment on bonds is available on KASE website in section "Issuers" ("default") at address http://www.kase.kz/en/emitters

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Individuals, willing to refute the information, published in this message, must apply to KASE by a corresponding official letter.