Kazakhstan's Doszhan Temir Zholy pays portion of overdue coupon

By Marisa Wong

Madison, Wis., May 27 - JSC Doszhan Temir Zholy made another partial interest payment for the eighth coupon period of its KZT 30 billion inflation-linked bonds due Aug. 2, 2028, according to a Kazakhstan Stock Exchange announcement.

On May 21, the company paid KZT 49,048,191, or 4%, of the interest accrued for the period from Aug. 1 to Aug. 14, 2013.

According to a prior notice from bondholder representative ATFBank, the company is in partial default for making only a partial payment on the Aug. 15, 2013 coupon.

On Aug. 15, 2013, the company paid KZT 49,048,191, or 4%, of the annual coupon, leaving KZT 1,177,156,574 unpaid. On Aug. 27, 2013, the company made another partial payment of KZT 49,048,191. The company then made five partial payments of KZT 98,096,381, 8% of the interest accrued, each on Sept. 18, 2013, Oct. 7, 2013, Nov. 5, 2013, Nov. 27 and Dec. 19. More recently, the company paid KZT 122,620,477, or 10%, of the interest accrued on Jan. 21; KZT 61,310,238, or 5%, of the interest accrued each on Feb. 19 and March 6; KZT 122,620,477, or 10%, of the interest accrued on April 17; and KZT 61,310,238, or 5%, of the interest accrued on April 25.

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

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