OREANDA-NEWS. August 13, 2009. BURLINGAZSTROI (Almaty) informed Kazakhstan Stock Exchange (KASE) by the official letter on delay of the fourth coupon interest payment on its bonds KZ2C0Y05C556 (KASE official list Non-rated Debt Securities second subcategory, BGSTb1; KZT1,000, KZT3.0 bn; August 1, 07 - August 1, 12, the semi-annual coupon 10.00 % APR; 30/360), reported the press-centre of KASE.
                                                              
According to the mentioned bonds issue prospectus BURLINGAZSTROI must have been paid the interest in the period from August 1-14, 2009. The issue prospectus stipulates that "in case of non-payment or incomplete payment by the issuer of any amount of an interest and/or a principal debt in compliance with this Prospectus terms, an Issuer must pay to this issue bonds holders a fine for each day of delay, accrued based on the official refunding rate of the National Bank of the Republic of Kazakhstan on the day of the monetary obligations fulfillment or its corresponding part".

In the letter BURLINGAZSTROI informed that:

Due to the delay by a subcontractor of works within signed contracts and advance payment BURLINGAZSTROI can not pay the coupon in time.

The company will be able top pay the coupon on bonds only after August 20, 2009.

BURLINGAZSTROI makes an apology to bonds KZ2C0Y05C556 holders for the next coupon payment delay.