January 25, 2019 / 8:54 AM / 23 days ago

Kazakh 'bad bank' to raise $1.6 bln for Tsesnabank asset purchase

ALMATY, Jan 25 (Reuters) - Kazakhstan’s state-owned “bad bank”, the Problem Loan Fund, plans to sell 604 billion tenge ($1.6 billion) in domestic bonds next week in order to finance asset purchases from Tsesnabank, the Kazakh Stock Exchange said on Friday.

Tsesnabank, the Central Asian nation’s second-biggest lender, sold about $1.2 billion in loans to the fund last year after experiencing difficulties with liquidity.

The fund provided no other details of the planned asset purchase in its bond prospectus. (Reporting by Olzhas Auyezov; editing by Jason Neely)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below