(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.
(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.
(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.
(SRI) - Moody’s downgraded the long-term issuer and debt ratings of Astana Finance to C from Ca with a stable outlook.
(SRI) - Astana Finance signed an agreement with international creditors last week, outlining the planned restructuring of its debt, the lender said on Monday.
(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).
(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).
(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.
(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.
(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.