Kazakhstan's BTA Bank reaches restructuring memorandum with creditors

By Caroline Salls

Pittsburgh, Sept. 22 - JSC BTA Bank has entered into a memorandum of understanding with a creditors' steering committee to restructure BTA's financial debt to satisfy regulatory capital requirements, according to a company news release.

Under the memorandum of understanding, BTA and the steering committee have agreed to work in good faith to arrive at agreed terms for the restructuring following completion of due diligence on the appropriate level of provisioning on BTA's loan assets.

BTA is a Kazakhstan bank.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.