Temirbank Informs on Plans on Removal of Default on Its Obligations
OREANDA-NEWS. January 19, 2010. Bank CenterCredit (Almaty, hereinafter – the Representative), the representative of mortgage bonds holders of Subsidiary of BTA Bank-Temirbank (Almaty, hereinafter - the Issuer), reported the press-centre of KASE:
- KZPC3Y07B552 (TEBNb6; KZT1, KZT4.0 bn, December 30, 05 - December 30, 12; the semi-annual coupon indexed at the inflation rate, 6.80 % APR for the current coupon period; 30/360);
- KZPC4Y09B556 (TEBNb7; KZT1,000; KZT3.0 bn; June 1, 06 - June 1, 15; the semi-annual coupon indexed at the inflation rate, 8.50 % APR for the current coupon period; 30/360);
- KZPC5Y06B559 (TEBNb8; KZT1,000; KZT3.5 bn; June 1, 06 - June 1, 12; the semi-annual coupon indexed at the inflation rate, 8.50 % APR for the current coupon period; 30/360);
- KZPC7Y10B557 (TEBNb10, KZT1,000; KZT4.5 bn; November 29, 06 - November 29, 21; the semi-annual coupon indexed at the inflation rate, 6.80 % APR for the current coupon period; 30/360);
- KZPC8Y15B554 (TEBNb11, KZT1,000; KZT4.0 bn; November 29, 06 - November 29, 21; the semi-annual coupon indexed at the inflation rate, 6.80 % APR for the current coupon period; 30/360);
Present in Kazakhstan Stock Exchange (KASE) official list, informed KASE by the official letter that:
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... to the Representative request on the Issuer plans on removal of the default on coupons payment on mentioned bonds and submission of the auditors report for 2009 on the pledge check up Temirbank by letter #18/54 informed that:
"The Issuer is implementing measures on obligations restructuring, including mentioned bonds.
In case of positive decision of creditors meeting holders will receive new secured bonds in the size of 25% from the main amount with the residual, convertible to unsecured subordinated bonds. All amounts will be expressed and paid in tenge. The interest accumulated till the decision making date will be paid after restructuring.
The planned date of decision: March-April 2009.
The Representative notified that the Issuer up till now did not submit 2009 auditors report and to the request the Issuer informed on intention to sign in 2010 the agreement for the pledge subject agreement.
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