It’s a shut-out: BTA Bank leaves investors fuming over restructuring

Kazakhstan’s BTA Bank once again raised hackles in the investor community this week as it indicated that it wouldn’t make scheduled payments on its senior and subordinated bonds and called for a full debt restructuring. Many London-based funds that own BTA bonds and equity are now angry that they might be shut out of a key vote on the bank’s future.

  • 13 Jan 2012

Some investors told EuroWeek that they do not believe the bank’s estimates of its capital shortfall and would prefer to push for bankruptcy, but Kazakh law could exclude funds with affiliates in offshore jurisdictions — preventing many international investors from voting on BTA’s future.

BTA, which is 82% ...

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Bookrunners of Global Covered Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Natixis 6,265.11 26 5.56%
2 Credit Suisse 6,183.04 31 5.49%
3 UniCredit 6,112.88 36 5.43%
4 HSBC 5,754.79 32 5.11%
5 LBBW 5,373.19 30 4.77%

Bookrunners of Global FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 35,381.73 166 6.54%
2 JPMorgan 35,214.43 130 6.51%
3 Bank of America Merrill Lynch 35,051.18 114 6.48%
4 Goldman Sachs 33,128.42 201 6.12%
5 Morgan Stanley 30,114.15 140 5.56%

Bookrunners of Dollar Denominated FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Bank of America Merrill Lynch 30,558.66 92 11.21%
2 JPMorgan 30,238.21 90 11.09%
3 Citi 28,565.76 128 10.48%
4 Goldman Sachs 25,845.50 172 9.48%
5 Morgan Stanley 24,671.38 107 9.05%

Bookrunners of Euro Denominated Covered Bond Above €500m

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Natixis 5,582.45 20 8.97%
2 Deutsche Bank 4,163.44 13 6.69%
3 UniCredit 3,902.49 16 6.27%
4 LBBW 3,521.48 15 5.66%
5 SG Corporate & Investment Banking 3,368.88 14 5.42%

Global FIG Revenue

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 02 May 2016
1 Morgan Stanley 365.83 497 7.62%
2 JPMorgan 332.66 618 6.92%
3 Bank of America Merrill Lynch 299.89 590 6.24%
4 Goldman Sachs 276.71 375 5.76%
5 Citi 264.54 592 5.51%

Bookrunners of European Subordinated FIG

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 HSBC 4,538.06 9 13.44%
2 UBS 3,374.07 13 9.99%
3 BNP Paribas 2,596.35 10 7.69%
4 Credit Agricole CIB 2,458.47 6 7.28%
5 SG Corporate & Investment Banking 2,055.39 8 6.09%