Kazakhstan's Doszhan repays remaining debt on sixth coupon for bonds

By Marisa Wong

Madison, Wis., Dec. 5 - JSC Doszhan Temir Zholy made an interest payment on its KZT 30 billion of debentures due Aug. 2, 2028 on Nov. 28, according to a company letter delivered to the Kazakhstan Stock Exchange on Monday.

Specifically, Doszhan made a third and final payment of KZT 22,345,254.35 for the sixth coupon period. The rest of the interest due on the debentures is equal to KZT 201,107,289.15.

Bondholder representative ATF Bank had announced in August that Doszhan was in partial default under the debentures. The sixth coupon payment for the debentures was due on Aug. 15. The issuer made a partial payment on Aug. 9 and a second interest payment on Oct. 27.

Doszhan previously said that it plans to pay the remaining interest gradually until the end of March 2012. The company is using income from its railroad operation to pay the coupon.

According to the letter, Doszhan also repurchased KZT 451.44 million of the bonds on Nov. 30. The company had previously bought back portions of the bonds. The total outstanding principal amount of the bonds following the most recent transaction is KZT 542.19 million.

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

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.