June 15, 2017 / 4:36 AM / a month ago

Kazakhstan to swap into Azeri sovereign debt in IBA restructuring

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ASTANA, June 15 (Reuters) - Kazakhstan plans to support the debt restructuring plan proposed by state-run Azeri lender IBA, Kairat Kelimbetov, a board member of the Kazakh state pension fund, said on Thursday.

Kelimbetov told reporters that Kazakhstan planned to choose an option under which the IBA debt it holds would be exchanged one-on-one for 15-year Azerbaijan sovereign Eurobonds paying 3.5 percent. (Reporting by Mariya Gordeyeva; Writing by Olzhas Auyezov; Editing by Subhranshu Sahu)

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