OREANDA-NEWS. June 22, 2011. JSC BTA Bank (the “Bank”) wishes to clarify certain concern related to scheduled repayments under new debt instruments issued under the Restructuring Plan.

As it has been reported before, on January 5, 2011 the Bank made first coupon payment in the amount of KZT 24 349 mln (USD165 mln) under new Notes. Moreover in March 2011 the Bank repaid the first installment of KZT 25 498 mln (USD175 mln) under Revolving Committed Trade Finance Facility (RCTFF).

In accordance with the repayment schedule this year the Bank in addition to previously repaid amounts shall make the second coupon repayment on June 30, 2011 in the amount of KZT 24 260 mln (USD166 mln) under new notes as shall repay the second installment for the amount of KZT 25 536 mln (USD175 mln) under the RCTFF on September 30, 2011.

Currently the Bank has sufficient level of short-term liquidity allowing it to perform all of its obligations in full and in accordance with the schedule and without any prejudice to the current operational activities of the Bank. As of June 20, 2011 cash balances amounted to KZT 50.7 bln (USD347 mln) or 2.6% of its current assets. Funds available under REPO transactions with the National Bank of the Republic of Kazakhstan at the same date amounted to KZT 251 bln (USD1 719 mln).

According to the Chairman of the Management Board of the Bank Mr. Anvar Saidenov “best proof of Bank’s ability to perform its promises is successful completion of debt restructuring, which in our view should result in trust and confidence of the investors. Currently the Bank together with its major shareholder JSC NWF “Samruk-Kazyna” continues to work on the development of the medium-term business model of the bank which should ensure stable development of BTA going forward”