Kazakhstan's RT Holding delays coupon interest payment on notes

By Caroline Salls

Pittsburgh, May 19 - RT Holding has delayed the fifth coupon interest payment due May 6 on its 8½% notes, according to a company news release.

The company said it was unable to make the KZT 54.38 million payment when due because of decreased operations stemming from a sharp decline in the consumer demand for construction materials in the Republic of Kazakhstan and non-fulfillment of obligations.

RT Holding has also asked to extend the coupon interest payment due Aug. 6 in accordance with an action plan on the default elimination and restructuring negotiations with the noteholders.

RT Holding is an Almaty, Kazakhstan cement company.

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