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JSC BTA Bank appoints Steering Committee, signs an Outline of Restructuring Principles and announces increases in Loan Loss Provisions and Debt Restructuring

JSC BTA Bank ("BTA") is pleased to announce that on 3 September 2009 BTA signed an Outline of Restructuring Principles (the "Restructuring Principles") with BTA's steering committee (the "Steering Committee") with respect to the restructuring of the financial indebtedness of BTA and its finance subsidiaries (the "Restructuring").The full text of these non-binding Restructuring Principles which were agreed upon on 3 August 2009, will be posted on BTA's website atwww.bta.kz. The Steering Committee comprises ABN AMRO Bank N.V., Commerzbank Atkiengesellschaft, the D. E. Shaw group, KfW (representing its affiliates DEG - Deutsche Investitions- und Entwicklungsgesellschaft mbH and KfW IPEX-Bank), Euler Hermes Kreditversicherungs AG (acting for and on behalf of the Federal Republic of Germany), Export-Import Bank of the United States, Fortis Investment Management UK Limited, Gramercy Advisors LLC, ING Asia Private Bank Limited, JPMorgan Chase Bank, N.A., Mediobanca - Banca di Credito Finanziario S.p.A., Standard Chartered Bank and Wachovia Bank N.A.

Appointment of Steering Committee

Source: BTA Bank


9 2009 | View: 945 | News / Theme of day | Printint version
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