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Sovereign Wealth Funds Briefing - Categorized | Financials

Kazakh bank BTA urges creditors to approve debt deal

Posted on 09 November 2012

Managers at Kazakh bank BTA, owned by the country’s sovereign wealth fund, urged creditors to vote in favour of a debt restructuring plan which some shareholders are threatening to block.
Creditors are unlikely, however, to benefit from any assets seized from former BTA chief Mukhtar Ablyazov, they said on Thursday. The bank defaulted for the second time in three years in early 2012, on a $2.1 billion bond that was the product of a previous restructuring………………………………………..Full Article: Source

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