On April 29, 2009 the Credit Derivatives Determinations Committee for EMEA resolved that a Failure to Pay Credit Event had occurred in respect of JSC BTA Bank. On April 30, 2009, the EMEA Determinations Committee further resolved that an auction would be held. This page contains details of the DC Resolutions, auction documentation and other items relating to the auction for JSC BTA Bank.
Further documentation relating to the auction will be added as it becomes available
Event Publicly Available Information:
On the BTA Bank Investor Conference Call held on April 28, 2009, BTA Bank indicated that it did not pay, after the expiration of the relevant grace period, certain senior accelerated non Kazakhstan law governed loans. Morgan Stanley has transcribed the relevant section of the BTA Bank Investor Conference Call . Relevant Section: Minutes 3:31-3:56: "We would like to confirm that as part of the strategy adopted by BTA management, on 14th April of this year, BTA Bank did not pay, after the expiry of any applicable grace period when and where due, certain senior non-Kazakhstan law governed accelerated obligations under international external bilateral facilities with principal exposure each in excess of 10 million US dollars and payable in currency other than tenge" Note -- Morgan Stanley prepared the transcript above.
| Auction Timeline | |
| Related DC Resolutions | |
| Deliverable Obligations | JSC BTA Bank Final List of Deliverable Obligations (updated 5 June with maturity of loans information) |
| Final Auction Terms | JSC BTA Bank Final Auction Terms Blackline of amended Final Auction Terms following DC Resolution on 3 June 2009 against JSC BTA Bank Auction Terms published on May 27 |
| Blackline of Final Auction Settlement Terms against published Form of Auction Settlement Terms | Blackline of JSC BTA Bank Final Auction Settlement Terms against Form of Auction Settlement Terms |
| List of Participating Bidders | |
| Press Release |