OREANDA-NEWS. January 06, 2010. BTA Bank (Almaty) informed Kazakhstan Stock Exchange (KASE) by the official letter on delay of payment of the eighth coupon interest on its subordinated bonds KZ2CKY10B828 (KASE official list buffer category, BTASb5; KZT10,000, KZT20.0 bn; December 30, 05 - December 30, 15; the semi-annual coupon 7.00 % APR, 30/360).

According to these bonds issue prospectus BTA Bank was to pay this interest from December 16, 2009 to January 15, 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 (NIN KZ2CKY10B828), included to Kazakhstan Stock Exchange official list buffer category, for the period from June 30 to December 30, 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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