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Sovereign Wealth Funds Briefing - Categorized | Asset Allocation, Market

Kazakh BTA bondholders may force $8 bln debt repayment

Posted on 13 January 2012

Holders of Kazakh bank BTA’s Eurobonds said on Thursday they are considering forcing early repayment on BTA’s senior debt if the bank goes into default next week, potentially allowing other creditors to demand repayment of up to $8 billion.
They were speaking to Reuters a day after Anvar Saidenov, chairman of BTA which is 81.5 percent owned by the country’s sovereign wealth fund Samruk-Kazyna, effectively quashed any hope that $160 million in coupons, originally due Jan. 3, would be paid within a 10-day grace period……………………………………….Full Article: Source


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