EKOTON Delays Payment of 7th Coupon on Bonds
OREANDA-NEWS. April 29, 2010. EKOTON+ (Astana) informed Kazakhstan Stock Exchange (KASE) by the official letter on delay of the seventh coupon interest payment on bonds KZ2C0405C218 (KASE official list Non-rated Debt Securities second subcategory, 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 EKOTON+ was to pay this interest on April 16-29, 2010. The prospectus specifies that "in case of default on payment or incomplete payment at fault of the Issuer of coupon interest and/or the principal in the terms set with the Prospectus, the Issuer shall pay bondholders fines for each day of delay, on the basis of the official refunding rate of the National Bank of the Republic of Kazakhstan as of the day of money obligation or its part fulfillment".
In the letter EKOTON+ informed that:
Hereby we inform that at present joint stock company EKOTON+ does not have enough funds to repay obligations on the coupon interest payment on infrastructural bonds for the seventh coupon period due on April 16, 2010.
Based on the above stated and considering the issuer difficulties, the order and terms of repayment will be defined later.
Комментарии