Kazatomprom’s consent solicitation irritates bondholders

17 Feb 2012

A consent solicitation launched on Monday afternoon by Kazakhstan’s atomic company, Kazatomprom, is worrying holders of the borrower’s quasi-sovereign bonds.

The solicitation, which is aimed at holders of Kazatomprom’s $500m 6.25% 2015s, is being sought to allow the company to hand over for free an expensive social project to the government. It is likely to be passed, but it has nonetheless concerned some bondholders, who are holding it ...

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