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BTA approves issue of New Notes under its Restructuring Plan

20.07.2010

Terms used in this press release and defined in the Information Memorandum of the Bank dated 1 May 2010, as supplemented by the Supplemental Information Memoranda dated 19 May and 27 May 2010 (the “Information Memorandum”), are used in this press release as so defined.

JSC BTA Bank (the “Bank”) has approved the issue of nine series of New Notes in connection with the implementation of its Restructuring Plan. In accordance with the provisions of the Information Memorandum, the Restructuring Plan was approved at the Claimants’ Meeting on 28 May 2010, in accordance with Resolution No.83 of the FMSA dated 4 June 2010, and approved by Order No. 2-24/2009 of the Specialized Economic Court in Almaty dated 1 July 2010.

The nine series of New Notes to be issued under the Restructuring Plan are as follows:

  1. Senior Dollar Notes due 2018;
  2. Senior Tenge Notes due 2018;
  3. OID Dollar Notes due 2021;
  4. OID Euro Notes due 2021;
  5. Subordinated Dollar Notes due 2025;
  6. Subordinated Euro Notes due 2025;
  7. Subordinated Tenge Notes due 2025;
  8. Subordinated Tenge Notes due 2030; and
  9. Recovery Units due 2020-22.

The New Notes are governed by the laws of England and Wales. Please note that the New Notes have not been and will not be registered with the relevant authorized body in the United Kingdom. The New Notes shall be issued solely to Claimants as part of the Restructuring.

Pursuant to clause 2 of article 22-1 of the Law of the Republic of Kazakhstan “On Stock Exchange” and clauses 2 and 3 of "Regulations on authorization of issue and placement of equity securities of resident entities of the Republic of Kazakhstan in foreign jurisdictions” as approved by Resolution No.270 of the FMSA dated 30 July 2005, the Bank shall request FMSA approval for the issue of notes in compliance with the laws of a foreign jurisdiction.

Media contacts:
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e-mail: pr@bta.kz
www.bta.kz