BTA Bank (Kazakhstan) informed on the meeting held within creditors organizational committee and temporary suspension from July 22, 2009 of interest payment on its financial obligations
27.07.09 11:20
/KASE, July 27, 09/ - BTA Bank (Almaty), securities of which are present in
Kazakhstan Stock Exchange (KASE) official list, provided to KASE the following
press release:
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On July 23, 2009, in London was held the meeting of BTA Bank consultants and
creditors on syndicated and bilateral loans, holders of eurobonds and trade
finding creditors, which can head the Creditors Organizational Committee. Among
participants were representatives of previously announced assumed members of
Creditors Organizational Committee together with JPMorgan Chase Bank, N.A.,
Mediobanca - Banca Di Credito Finanziario S.p.A. and Standard Chartered Bank.
BTA presentation is published on the bank website at www.bta.kz. The
presentation was submitted to the assumed Creditors Organizational Committee
members well in advance and therefore they could approve it. The published
information was not approved by auditors and is based on preliminary
management assessments.
The assumed Creditors Organizational Committee members emphasized their
hope for further work with BTA Bank, but reserve the right to undertake any
actions to protect own interests. The meeting was of informative character.
BTA is confident that establishment of the Creditors Organizational Committee will
get further development.
In addition, BTA intends to extend the moratorium for payment of debts, according
to which from July 22, 2009 has temporarily suspended interest payment.
Nevertheless, BTA continues its operational activities, payments and transfers
timely an in compliance with clients orders.
For media contacts:
Adil Dossymov, Press Secretary
8 (727) 266-47-97
8 707 3457619
e-mail: dosymov@bta.kz
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[2009-07-27]