OREANDA-NEWS. May 20, 2010. Astana-Finance (the Company) informed on the debt restructuring, reported the press-centre of KASE.

The new management is studying financial standings of the company, building solvency forecasts and developing plans for the restructuring.

A working group of company employees was established for the restructuring. The group is headed with Company Deputy Chairman Erlan Mantaev. The working group pursues to organize effective interaction with creditors under the restructuring.

The Company began talks with the Creditors Committee, the Kazakhstan Financier Association, legal and financial advisors.

Study of currency standings and development of plans will take some time and it is considered that the restructuring plan will be presented in June 2010.

National wellbeing fund Samruk-Kazyna will monitor and control the restructuring through its persons in the Company Board. At the same time the Fund is not planning to assume any financial liabilities under the restructuring.

In accordance with the Memorandum of understanding signed between the Fund and the Company early this year the Fund is seeking to convert the Astana-Finance debt before Samruk-Kazyna subsidiaries into shares.

The Fund and the new management of the company are looking forward to successful completion of the restructuring.