Kazakhstan's BTA Bank delays fourth coupon on eight series of bonds

By Marisa Wong

Madison, Wis., July 26 - BTA Bank JSC notified the Kazakhstan Stock Exchange that payment of the fourth coupon on eight series of its bonds has been delayed. The fourth coupon was due on July 1.

Affected are the following issues:

• $2,082,371,783 of bonds due July 1, 2018 with a coupon of 10¾% until Dec. 31 and a coupon of 12½% afterward;

• KZT 32,604,173,503 of bonds due July 1, 2018 with a coupon of 14¾% until Dec. 31 and 16½% afterward;

• $384,848,130 of bonds due July 1, 2021 with coupon of 3.7% until June 30, 2017 and a 3.3% coupon afterward;

• €437,110,856 of bonds due July 1, 2021 with a coupon of 3.14% until June 30, 2017 and a 2.74% coupon afterward;

• $496,631,368 of 7.2% bonds due July 1, 2025;

• €28,237,359 of 6¾% bonds due July 1, 2025;

• KZT 7,396,248,930 of 11.2% bonds due July 1, 2025; and

• KZT 28 billion of 8% bonds due July 1, 2030.

In a separate notice, the bank said that subsidiary BTA Ipoteka JSC repaid its 8½% bonds due 2016 and 6.1% bonds due 2018 ahead of maturity. The outstanding bonds were redeemed at par plus accrued interest on July 25.

BTA Bank is based in Almaty, Kazakhstan.

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