Astana Finance
Samruk-Kazyna to support Astana Finance
(SRI) - Astana Finance said on Wednesday it had signed a Memorandum of Understanding (MoU) with the state holding and investment company Samruk Kazyna, as it works to restructure its $1.7-billion debt.
FSA orders Astana Finance to cut stakes in subsidiaries
(SRI) - Kazakhstan’s Financial Supervision Agency (FSA) has ordered Astana Finance to decrease its stakes in its banking and insurance subsidiaries until it reaches a restructuring deal and boosts its regulatory capital, Reuters reported.
Astana Finance seeks extension of restructuring deadline; signs agreement with export credit agencies
(SRI) - Astana Finance has requested an extension of a deadline to submit its final debt restructuring plan to the Kazakh Financial Supervision Agency (FSA) until March 2010, the lender’s chairman Kintal Islamov said on Thursday.
Moody’s downgrades Astana Finance to C
(SRI) - Moody’s downgraded the long-term issuer and debt ratings of Astana Finance to C from Ca with a stable outlook.
Astana Finance signs term sheet with international creditors
(SRI) - Astana Finance signed an agreement with international creditors last week, outlining the planned restructuring of its debt, the lender said on Monday.
Astana Finance loses $778 million in Jan-Sep
(SRI) - Astana Finance reported a net loss of KZT116.7 billion ($778 million) in the first nine months of 2009, according to unaudited financial statements published on the website of the Kazakhstan Stock Exchange (KASE).
Domestic creditors reject Astana Finance’s debt restructuring plan
(SRI) - Domestic creditors of Astana Finance rejected the proposed debt restructuring plan citing concerns over a lack of transparency and saying it violated a principle of equality among domestic and foreign creditors, according to a statement published on the Kazakhstan Stock Exchange (KASE).
Astana Finance blames derivatives for default
(SRI) - Astana Finance’s head accountant Raisa Sedova said on Wednesday the lender had paid EUR80 million ($119 million) on a credit default swap (CDS) contract on BTA Bank debt sold in 2007.
Astana Finance offers to repay trade finance debt in full in exchange for more funding
(SRI) - Astana Finance offered to repay its trade finance debt of $221 million in full if affected credit agencies agree to a ten-year debt rollover and provide additional funding, the lender’s CEO Elmira Ibatullina told journalists on Monday.
Astana Finance plans to cut debt by $650 billion
(SRI) - Astana Finance plans to reduce its international debt by $650 million, in part by issuing new shares to give its creditors a majority stake in the lender, Reuters reported on Monday citing Astana Finance CEO Elmira Ibatullina.
