Kazakhstan’s Doszhan Temir Zholy pays portion of bond coupon

By Marisa Wong

Morgantown, W.Va., May 3 – JSC Doszhan Temir Zholy made a partial payment on the 12th coupon for its KZT 30 billion inflation-linked bonds due Aug. 2, 2028, according to a Kazakhstan Stock Exchange notice.

Bondholders received a partial payment on April 27 in the amount of KZT 250 million.

The company was supposed to pay the 12th coupon from Aug. 2, 2017 to Aug. 15, 2017. On Aug. 15 the company announced that it only made a partial payment on the August coupon in the amount of KZT 1 billion, resulting in a partial default.

The company made three subsequent partial payments of KZT 250 million each on Sept. 20, 2017, Oct. 24, 2017 and Nov. 24.

The amount of debt due for the 12th coupon period was KZT 2,261,165,110. The outstanding balance is now KZT 261,165,110.

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

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