OREANDA-NEWS. November 09, 2009. Alliance Bank (Almaty) informed Kazakhstan Stock Exchange (KASE) on delay in payment of the tenth coupon on subordinated bonds KZ2CKY07B394 (KASE, "buffer category", ASBNb3; KZT1, KZT3.0 bn; 29.10.04 - 29.10.11, semiannual coupon indexed to inflation rate, 10.60 % APR as for the reporting coupon period; 30/360), reported the press-centre of KASE.

According to the prospectus of the bonds Alliance Bank had to pay the interest on October 29, 2009. The prospectus specifies "in case the issuer delays on obligations on payment of interest and/or the principal on the bonds, beginning the day, following the last payment day, a fine shall be credited in favor of bondholders for each day of delay, calculated on the basis of the official refinance rate set by the National Bank as on the day of compliance with money obligations or a corresponding part of it".

Alliance Bank informed of the following:

Herewith Alliance Bank (hereafter - the bank) notifies that on October 29, 2009 the bank failed to pay coupon interest on bonds of the third issue (NIN KZ2CKY07B394) in connection with coming into effect of decision of the Almaty special financial court No. 2-21/2009 dated September 18, 2009 on restructuring of Alliance Bank, which suspended compliance with requirements of bank creditors, obligations before which are supposed to be restructured. The Bonds are subject to restructuring.