Kazakhstan’s Imstalcon misses coupon payment on bonds due 2017

By Marisa Wong

Morgantown, W.Va., Sept. 26 – Imstalcon JSC did not make the 12th coupon payment on its bonds due September 2017, according to a Kazakhstan Stock Exchange notice.

The missed coupon, in the amount of KZT 24,000, was for the period from March 9, 2016 to Sept. 8.

The company said it is incapable of paying interest on the bonds, because it is prohibited from making asset disposals (including cash) under a court decision in January 2016.

Imstalcon makes and installs steel structures and is based in Almaty, Kazakhstan.

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