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Sovereign Wealth Funds Briefing - Categorized | Financials, Investment

BTA Bank agreed debt restructuring with creditors

Posted on 09 October 2012

The Samruk-Kazyna National Welfare Fund may become the sole shareholder of BTA Bank until the end of the year. The fact is that according to the new terms of debt restructuring, the fund will convert a part of its deposits in the bank’s equity.
Apart from that, Samruk-Kazyna will provide BTA a loan exceeding 1.5 billion US dollars. While addressing a press conference Yerik Balapanov, the bank’s Chairman of the Board, noted that the exact capital contribution of the state fund will depend on the technical procedures………………………………………..Full Article: Source


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