ECONOMY


International Bank of Azerbaijan attracts over $200 million syndicated loan

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Baku, November 10, AZERTAC

The International Bank of Azerbaijan (IBA) successfully attracted over $200 million syndicated loan. Deal was arranged by Citibank, Credit Suisse A.G. London Branch (Credit Suisse), Emirates NBD Capital Limited (ENBD) and J.P. Morgan. Citi was appointed as the coordinator and facility agent and J.P. Morgan as the publicity agent for the facility.

A diverse group of 12 international banks participated in the deal. The facility was launched at $150 mln. and was oversubscribed, leading to an upsize amount of $200 mln. This deal marked a strong return of the IBA to the international markets under the new leadership and is the first syndication of the IBA since April 2015.The proceeds will be used for general corporate purposes and trade related needs.

The IBA holds 37,9% of the country's total banking assets, 32,7% of the customer loans and 26,5% of the total banking deposits.

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