OREANDA-NEWS. January 06, 2010. BTA Bank (Almaty) informed Kazakhstan Stock Exchange (KASE) by the official letter on delay of payment of the seventh coupon interest on its subordinated bonds KZ2C0Y30C125 (KASE official list buffer category, BTASb7; KZT10,000, KZT125.0 bn; June 29, 06 - June 29, 16; the semi-annual coupon 7.00 % APR, 30/360).

According to these bonds issue prospectus BTA Bank was to pay this interest from December 29, 2009 to January 14, 2010. 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 BTA Bank informed that:
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BTA Bank did not pay the coupon interest on the ninth issue subordinated bonds (KZ2C0Y30C125), included to Kazakhstan Stock Exchange official list buffer category, for the period from June 29 to December 29, 2009, due to suspension of interest payment on BTA Bank obligations.
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Previous KASE news on this topic of July 27, 2009 "BTA Bank (Kazakhstan) informed on the meeting held within creditors organizational committee and temporary suspension from July 22, 2009 of interest payment on its financial obligations" - http://www.kase.kz/en/news/show/1079467

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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