OREANDA-NEWS. January 14, 2010. Astana-finance (Astana) informed Kazakhstan Stock Exchange (KASE) by the official letter on delay of the ninth coupon interest payment on its subordinated bonds KZPC2Y07B505 (KASE official list buffer category, ASFIb6; KZT100, KZT2.0 bn; June 22, 05 - June 22, 12, the semi-annual coupon indexed at the inflation rate 10.90 % APR for the reporting coupon period; 30/360), reported the press-centre of KASE.

According to the mentioned bonds issue prospectus Astana-finance must have paid the interest from December 22, 2009 to January 6, 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 Astana-finance informed that:

At present the company is the process of financial obligations restructuring and the action plan is being developed with involvement of financial and legal advisors.

After the restructuring plan approval the company will inform on time-frame of the coupon interest payment.