EKOTON Delays Payment of 8th Coupon on Bonds
OREANDA-NEWS. November 08, 2010. EKOTON+ (Astana) informed Kazakhstan Stock Exchange (KASE) by the official letter on delay of the eighth coupon interest payment on bonds KZ2C0405C218 (KASE official list buffer category, EKTNb1; KZT100, KZT1.0 bn; October 16, 06 - October 16, 11, the semi-annual coupon 10.00 % APR; 30/360), reported the press-centre of KASE.
According to these bonds issue prospectus EKOTONplus was to pay this interest on October 16-29, 2010.
In the letter EKOTONplus informed that:
...an issuer has unpaid debt in the size of KZT98390000 on October 16, 2010.
At present, the issuer negotiates with bonds holders the change in terms of bonds issue related to circulation period and past-due interest payment.
Based on the above stated and considering the issuer difficulties, the order and terms of repayment will be agreed on with bonds holders.
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Previously KASE published news of April 28, 2010 "EKOTON+ (Kazakhstan) delays payment of the 7th coupon on bonds KZ2C0405C218 (EKTNb1)" - http://www.kase.kz/en/news/show/1102630
At present nine 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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