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Sovereign Wealth Funds Briefing - Categorized | Asset Allocation, Financials

Kazakh state fund backs BTA bank’s debt rescue plan

Posted on 10 April 2012

Troubled Kazakh bank BTA’s biggest shareholder, the state investment fund, said on Thursday it would press ahead with a debt restructuring plan and dismissed suggestions that the bank should instead be allowed to fail.
Kazakhstan’s third-largest bank by assets, which is majority owned by the sovereign wealth fund Samruk-Kazyna, defaulted on a $2 billion, 2018 Eurobond in January, only 18 months after a first round of restructuring cut its debt by two thirds………………………………………..Full Article: Source


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