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Kazakh Fund May Inject Cash In BTA
Samruk-Kazyna has announced that it will allocate cash to BTA Bank if the bank requires financing.
Samruk-Kazynahas announced that it will allocate cash toBTA Bankif the bank requires financing,Bloombergreports. The Kazakh sovereign wealth fund has not decided on how it would inject money in the bank.
BTA creditors, includingGoldman Sachs,HSBC HoldingsandBarclaysagreed to cut its debt to $4.2 billion in exchange for cash and a stake. BTA was taken over by the state in 2009 when it defaulted on it payments.
Click here for the story fromBloomberg.