BTA Bank Made First Interest Payment under New Bonds

OREANDA-NEWS. January 12, 2011. JSC BTA Bank (hereinafter referred to as “the Bank”) made the first interest payment for the total amount of USD165mln (KZT24 349mln) under new bonds that include the following instruments:

These bonds have been issued during restructuring which resulted in cancellation of all previously issued bonds and other liabilities of the Bank, cash payment of USD945 mln., issue of new debt securities and shares and entering into a Revolving Committed Trade Finance Facility.

Mr. Anvar Saidenov, Chairman of the Management Board believes that payment of interest under new bonds is a positive sign for creditors, since this repayment is the first one after the completion of the restructuring: "I think that most of our creditors will positively respond to message on repayment of first coupon under new Bank’s bonds. For them such repayment means that BTA continues servicing its debts that was suspended for the period of restructuring and that all events envisaged by the Restructuring Plan are being realized in full and in strict compliance with the schedule".