Bank "IBA-Moscow" signs second Syndicated Loan Agreement in 2012
Azerbaijan, Baku, Oct.24 / Trend, J.Nasibova /
Bank "IBA-MOSCOW" signed Syndicated Loan Agreement for RUB 2.6 billion ($83.5 million) with Russian Novikombank on Oct.15, 2012, Novikombank's official website reported on Wednesday.
The Syndicated Loan was granted under the surety of the owner of Bank "IBA-MOSCOW" - JSC "International Bank of Azerbaijan".
The Loan financing was provided by Novikombank (Russia), MDM Bank (Russia), Sviaz-Bank (Russia), SME Bank (Russia), SMP Bank (Russia), Globex Bank (Russia), Bank of Moscow (Russia), Baltikums Bank AS (Latvia).
Novikombank acted as Mandated Lead Arranger and Facility Agent.
Starting from 2012 this transaction was the second syndicated loan arranged by Novikombank for Bank "IBA-Moscow (The first one was arranged in August 2012 for the total amount of USD 55 mln). Expansion of cooperation with financial institutions of the CIS countries is high priority direction of Novikombank's policy to promote the development of foreign economic and business relations.
IBA-Moscow, a subsidiary of the International Bank of Azerbaijan, was established in 2002.At present, the bank's has 15 sales offices in Moscow, St. Petersburg and Yekaterinburg.
It is the first bank in Russia with foreign capital from the CIS. Its authorized capital amounts to RUB 856 million.
The official exchange rate is 31.12 USD/RUR on Oct.24.