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Kazakhstan's BTA Bank announces restructuring plan share entitlements
By Caroline Salls
Pittsburgh, Aug. 13 - JSC BTA Bank announced the entitlements under its restructuring plan, according to a Friday news release.
Specifically, the company said claimants in a "senior package 1" category will receive a share of 12.61% of the issued share capital of the company, and claimants in the "senior package 2" classification will receive 1.39% of the issued share capital.
Under the coefficients used to calculate the entitlements, the senior package 1 includes 11.07% of cash, 27.01% of senior notes, no OID notes and 6.12% of subordinated notes.
Meanwhile, the senior package 2 includes no cash or senior notes, 45.67% of OID notes and 6.46% of subordinated notes.
BTA is a bank based in Almaty, Kazakhstan. It made a Chapter 15 bankruptcy filing on Feb. 4, 2010 in the U.S. Bankruptcy Court for the Southern District of New York. The case number is 10-10638.
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