BTA brushes off vote loss to pursue restructuring

BTA Bank is to seek a restructuring of its debt despite GDR holders’ refusal to consent to the move on Thursday. The 82% state-owned Kazakh bank, which on January 3 failed to make scheduled payments on its $2bn senior bonds, as well as on previously restructured discount debt and subordinated bonds, views the lost vote as no obstacle to negotiations, chairman Anvar Saidenov said.