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Astana-Finance (Kazakhstan) delays payment on accrued interest on 4 bond issues

May 24, 2010 "KASE"
/KASE, May 24, 10/ - Astana-Finance (Astana) informed Kazakhstan Stock
Exchange (KASE) the company paid the fourth coupon interest on bonds
KZP01Y15D013 (KASE, 'buffer category', ASFIb16; KZT100, KZT30.0 bn;
19.05.08 - 19.05.23, semiannual coupon indexed to inflation rate, 12.00 % APR
as for the reporting coupon period; 30/360).

According to the bond prospectus Astana-Finance must pay the interest in the
period May 19 through June 1, 2010. The Prospectus provides "should the issuer
fail to pay any amount payable to bondholders in accordance with the
Prospectus, the issuer must pay the bondholders the main debt amount and fine
for each day of delay, calculated on the basis of the official refinance rate of
the National Kazakhstan Bank as on the day of compliance with money obligations
or part thereof".

The issuer also informed Kazakhstan Stock
Exchange (KASE) the company paid the fourth coupon interest on indexed to
devaluation of tenge to dollar bonds KZP03M42C539 (KASE, 'buffer category',
ASFIb17; KZT100, KZT21,875.0 m; 14.05.08 - 14.11.11, semiannual coupon
9.0956 % APR; 30/360).

According to the bond prospectus Astana-Finance must pay the interest in the
period May 18 through May 31, 2010. The Prospectus provides "should the
issuer fail to pay any amount payable to bondholders in accordance with the
Prospectus, the issuer must pay the bondholders the main debt amount and fine
for each day of delay, calculated on the basis of the official refinance rate of
the National Kazakhstan Bank as on the day of compliance with money obligations
or part thereof".

The conpany also delayed payment of the eighth coupon interest
on subordinated bonds KZPC2Y15B722 (KASE, 'buffer category', ASFIb9;
KZT100, KZT9.0 bn; 12.05.06 - 12.05.21, semiannual coupon 8.00 % APR;
30/360).

According to the bond prospectus Astana-Finance must pay the interest in the
period May 12 through May 25, 2010. The Prospectus provides "should the
issuer fail to pay any amount payable to bondholders in accordance with the
Prospectus, the issuer must pay the bondholders the main debt amount and fine
for each day of delay, calculated on the basis of the official refinance rate of
the National Kazakhstan Bank as on the day of compliance with money obligations
or part thereof".

The issuer also delayed pay of the twelfth coupon interest on
bonds KZ2CKY07B162 (KASE, 'buffer category', ASFIb4; KZT100, KZT2.0 bn;
18.05.04 - 18.05.11, semiannual coupon indexed to inflation rate, 8.70 % APR
as for the reporting coupon period; 30/360).

According to the bond prospectus Astana-Finance must pay the interest in the
period May 18 through May 31, 2010. The Prospectus provides "should the
issuer fail to pay any amount payable to bondholders in accordance with the
Prospectus, the issuer must pay the bondholders the main debt amount and fine
for each day of delay, calculated on the basis of the official refinance rate of
the National Kazakhstan Bank as on the day of compliance with money obligations
or part thereof".

Astana-Finance informed:

Currently the Company is restructuring its financial debt and developing a
corresponding plan.

An additional note will be issued to inform on the terms of payment of the coupon
interest on the bonds after the restructuring plan will have been approved.
Company — Astana-finance
  • Full name
    Joint Stock Company "Astana-finance"
  • Registration country
    Kazakhstan
  • Industry
    Financial institutions