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Sovereign Wealth Funds Briefing - Categorized | Asset Allocation

Kazakh SWF won’t issue debt for BTA default

Posted on 01 June 2009

From Reuters: Kazakhstan’s sovereign wealth fund Samruk-Kazyna is not planning to issue bonds as part of efforts to restructure the defaulted debt of BTA bank BTAS.KZ, an advisor to the process said on Friday.

Contradicting earlier comments by a senior Kazakh official, Marcia Favale-Tarter — who is advising Samruk as well as the Kazakh government — told Reuters that BTA creditors should not hope to exchange its bonds or loans for those of the state fund…….Full Article: Source


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