Kazakhstan Kagazy delays ninth coupon interest payment on 8.9% bonds

By Caroline Salls

Pittsburgh, Oct. 28 - Kazakhstan Kagazy JSC has delayed the ninth coupon interest payment on its 8.9% bonds, according to a company news release.

The payment was due by Oct. 20.

The company said it is in negotiations with bondholders regarding changes to the terms of the debt securities.

Because of the negotiations and Kazakhstan Kagazy's financial condition, the repayment schedule is subject to bondholder approval, according to the release.

Kazakhstan Kagazy is an industrial group based in Almaty, Kazakhstan.

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