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BTA Bank repaid the second installment of USD 175 mln under the Revolving Committed Trade Finance Facility Agreement


Almaty, September 30 2011 – Today, BTA Bank (further – “Bank”) announced the repayment of the second installment of USD 175 mln of Legacy Loan under the Revolving Committed Trade Finance Facility Agreement (further – “RCTFF”).

According to the terms and conditions of the RCTFF Agreement, Bank has to repay Legacy Loan in the following installments:

Repayment Date 31.03.2011 30.09.2011 31.03.2012 30.09.2012
Repayment Installment, USD 175 000 000 175 000 000 175 000 000 173 186 047,18

As announced earlier, the payment of the first installment of Legacy Loan was made on March 31, 2011 in full amount and in accordance with the repayment terms. This enables the Bank to utilize repaid amounts through issuance of trade finance instruments and attract funding for financing of export and import contracts under these financial instruments.

The RCTFF Agreement was concluded between the Bank and its creditors as part of the debt restructuring process, which was completed in 2010. The Lenders under this Agreement are represented by creditors, whose claims for principal amount of USD 698 186 047.18 were restructured under Senior Package 3 as outlined in the Restructuring Plan of the Bank. The purpose of the Facility is to enable the Bank to support the financing of Eligible Trade transactions. This Facility will allow the Bank to provide its customers with high quality Trade Finance services and products on competitive terms.

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