Kazakhstan's Doszhan makes payment on overdue coupon for bonds

By Marisa Wong

Madison, Wis., Jan. 30 - JSC Doszhan Temir Zholy made an interest payment on its KZT 30 billion of debentures due Aug. 2, 2028 on Jan. 23, according to a company letter delivered to the Kazakhstan Stock Exchange on Wednesday.

Specifically, Doszhan made a partial payment of KZT 77,548,248.75, or 3% of the total interest accrued, for the seventh coupon period.

Bondholder representative ATF Bank had announced in July that Doszhan lacked sufficient funds to make the interest payment for the seventh coupon period on Aug. 1 through Aug. 14.

The issuer made a partial payment of KZT 1,085,675,482.50, or 42% of the total interest due, on Aug. 14; a partial payment of KZT 51,698,832.50, or 2% of the total interest due, on Sept. 20; a partial payment of KZT 77,548,248.74, or 3% of the total interest due, on Oct. 20; a partial payment of KZT 77,548,248.75, or 3% of the total interest due, on Nov. 22; and another partial payment of KZT 465,289,492.50, or 18% of the total interest due, on Dec. 11.

According to another letter delivered to the Kazakhstan Stock Exchange on Wednesday, Doszhan paid a fine on Jan. 25 for the overdue fourth coupon to holders of the same debentures. The fine totaled KZT 8,099,563.30.

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

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