04.10.2012 - Kazakh wealth fund forges debt deal for No.3 bank
Kazakhstan's sovereign wealth fund has rescued the country's No.3 bank for the second time in as many years, forging a deal to cut the bank's $11.2 billion of debt that will see its majority stake rise and creditors lose less than feared. The deal triggered a rally in the heavily discounted bonds of the bank - BTA BTAS.KZ - as creditors will recover more of their outlay than seemed likely when BTA defaulted in January...............................................Full Article: Source
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