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Prospect News home > News index > List of issuers T > Headlines for Tort-Kudyk > News item
Published on 5/28/2013 in the Prospect News Distressed Debt Daily and Prospect News Emerging Markets Daily.

Kazakhstan's Tort-Kudyk delays coupon payment on inflation-tied bonds

By Marisa Wong

Madison, Wis., May 28 - JSC BTA Securities informed the Kazakhstan Stock Exchange that an event of default occurred for JSC Tort-Kudyk. Tort-Kudyk missed the May 21 deadline for making an interest payment on its inflation-linked bonds.

The issuer said it intends to repay the overdue coupon within 30 days.

The Astana, Kazakhstan-based ore mining and processing company issued KZT 2 billion of the eight-year bonds in November 2006.


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