Asia-Electric Intends to Change Issue Parameters of Bonds
OREANDA-NEWS. April 27, 2010. Asia-Electric (Taldykorgan) informed Kazakhstan Stock Exchange (KASE) by the official letter that the Agency of the Republic of Kazakhstan on Regulation and Supervision of Financial Market and Financial Organizations is considering changes to the issue prospectus of bonds KZ2C0Y03C411 (ASELb1; KZT1,000, KZT1.0 bn; April 3, 07 - April 3, 10, the semi-annual coupon indexed at the inflation rate, 10.90 % APR for the last coupon period; 30/360), reported the press-centre of KASE.
According to the submitted information the following changes are planned to be made to these bonds issue prospectus:
- extend circulation terms for four years till April 3, 2014;
- change the coupon interest rate from a free floating, indexed at the inflation rate to the fixed in the size of 13.08 % APR;
- fix for the issuer an obligation each six months, beginning October 3, 2011, to repay 16.667 % from the principal amount, defined as of the issue parameters change date, together with the next coupon interest payment.
Also, Asia-Electric informed that the issue parameters changes were agreed on with all mentioned bonds holders.
We remind, that mentioned bonds were included to KASE category "B" official list from October 3, 2007, from September 1, 2008 were transferred to KASE official list Non-rated Debt Securities second subcategory, and from October 2, 2009 - to KASE official list buffer categoryв. Trades in them were opened from April 4, 2007. from April 5, 2010 mentioned bonds were removed from the KASE official list due to their circulation term expiry.
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