OREANDA-NEWS. December 15, 2009. Subsidiary of BTA Bank-Temirbank (Almaty), securities of which are present in Kazakhstan Stock Exchange (KASE) official list, provided to KASE the following press release, reported the press-centre of KASE:

Temirbank (the Bank) announces its plans on confidential discussions at the beginning of this week with leading holders of Bonds 2014 and Bonds 2011, who determined themselves as representatives of the international bonds holders wide community and expressed readiness to immediately consider alternatives with the Bank.

The meeting goal is to consider details of main terms for assumed changes in terms, which will be proposed to international bonds holders, developed considering responses received from bonds holders from the process launching beginning on November 30, 2009.

In case of achievement of agreements the Bank will publish main terms based on the consent of international bonds holders on December 17 and will start achieving the support of appropriate government bodies of Kazakhstan for making changes to the Bank restructuring completion schedule.

In case of disagreement of main terms, if appropriate government bodies will not agree to make changes to the schedule based on any such main terms, the international bonds holders meeting appointed at December 22 and the Creditors Meeting appointed at December 23, being convened to approve the restructuring as foreseen in the Information Memorandum of November 30, will be held according to the appropriate schedule, if will not be cancelled by future statements.

The Bank emphasizes that main terms will cover changes concerning international bonds, and the Bank does not expect significant changes in this process for other leading interested parties.