Kazakhstan's Doszhan pays fine on overdue fourth coupon for bonds

By Marisa Wong

Madison, Wis., May 22 - JSC Doszhan Temir Zholy paid a fine for the fourth coupon period to holders of its KZT 30 billion debentures due Aug. 2, 2028 on Monday, according to a company letter delivered to the Kazakhstan Stock Exchange.

The fine for the overdue fourth coupon totaled KZT 8,099,563.

Doszhan previously repaid in full the overdue sixth coupon for those same bonds, along with a fine for the delay.

Bondholder representative ATF Bank had announced in August 2011 that Doszhan was in partial default under the debentures. The sixth coupon was originally due Aug. 15, 2011. The company made partial interest payments through March.

Doszhan Temir Zholy constructs and operates railway lines and is based in Almaty, Kazakhstan.

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