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Sovereign Wealth Funds Briefing - Categorized | Asset Allocation, Financials

BTA may skip payment on capital gap, bank-run risk, CEO says

Posted on 18 January 2012

BTA Bank may skip a $166 million coupon payment due tomorrow because it has an “acute need to restore capital” and faces the risk of a run on deposits, acting Chief Executive Officer Askhat Beisenbayev said.
A group of unidentified creditors has demanded that BTA make the payment before discussing the proposed restructuring. The coupon payment would reduce the exposure of BTA and Kazakh sovereign-wealth fund Samruk-Kazyna to the risk of claims of securities-law violations……………………………………….Full Article: Source


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