Kazakhstan Kagazy delays eighth coupon payment amid bondholder talks

By Caroline Salls

Pittsburgh, April 20 - Kazakhstan Kagazy JSC has delayed payment of the eighth coupon on its 7.7% bonds, according to a news release.

The coupon payment was required to be paid in the period of April 7 to April 20. Under the related prospectus, bondholders will be paid fines for each day of delay.

The company said it is in talks with bondholders regarding changes to the bond issue.

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

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