INTERFAX. International Bank of Azerbaijan — Moscow, a 100% subsidiary of International Bank of Azerbaijan (IBA), raised a $55 mln syndicated loan, the bank said in a press release. Lead arrangers of the syndicated loan are Bayerische Landesbank, Credit Suisse and Banif-Banco Internacional do Funchal S. A. Other participants of the transaction are also Landesbank Baden-Wurttemberg, Mega International Commercial Bank Co. Ltd., Paris branch, AKA Ausfuhrkredit-Gesellschaft, Banque de Commerce et de Placements S. A., Caixa Geral de Depositos S. A., France Branch, Land Bank of Taiwan and Offshore Banking Branch.
Initially, the loan facility was planned at $40 mln. The loan will be earmarked to trade financing operations and increase the lender’s credit portfolio, the press release said. The loan was provided against guarantees of IBA at LIBOR + 1.25% for a term of 364 days with the option of a 364-day prolongation.
International Bank of Azerbaijan — Moscow was registered in Russia in January 2002 as a resident bank with 100% foreign capital. International Bank of Azerbaijan, the republic’s largest lender in terms of assets, is the bank’s founder and sole owner. In H108, International Bank of Azerbaijan — Moscow ranked 212th in terms of assets in the Interfax-100 ranking, prepared by Interfax-CEA.
