Int’l Bank of Azerbaijan attracts over $200M syndicated loan
Baku, Azerbaijan, Nov. 10
The International Bank of Azerbaijan (IBA) successfully attracted over $200 million syndicated loan.
The 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 million and was oversubscribed, leading to an upsize amount of $200 million.
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 percent of the country's total banking assets, 32.7 percent of the customer loans and 26.5 percent ot the total banking deposits.
For more information on products and services of the IBA, please visit the official website www.ibar.az , any of 35 branches and 43 sub branches of the bank, or call the Information Center by number (012) 937 and *2265.