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Sovereign Wealth Funds Briefing - Categorized | Financials

Kazakh BTA says has enough cash for upcoming coupon

Posted on 22 June 2011

BTA , Kazakhstan’s third-largest bank by assets, said it had enough money to meet an upcoming bond coupon payment of $166 million without affecting day-to-day operations.
Bonds in the bank have sold off heavily in recent days on fears BTA, owned 81.5 percent by Kazakhstan’s sovereign wealth fund, would be unable to pay the coupon. Yields on the bonds which mature 2018 hit a record high near 20 percent on Monday……………………………………….Full Article: Source


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