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Azerbaijan’s gold producer reduces its credit debt

Business Materials 19 July 2017 19:25 (UTC +04:00)

Baku, Azerbaijan, July 19

By Azad Hasanli – Trend:

Anglo Asian Mining PLC (AAM), a producer of gold, copper and silver in Azerbaijan, reduced its credit debt by 12.4 percent ($4.1 million) to $29 million in 2Q17, says the company’s report.

Thus, the company reduced its debt to the Amsterdam Trade Bank (by $1.2 million), Gazprombank (by $1.2 million), International Bank of Azerbaijan (by $2.8 million), Atlas Copco (by 0.2 million), YapiKredi (by $0.4 million), Kapital Bank (by 0.5 million).

Meanwhile, during the period, the company attracted an additional loan from PASHA Bank OJSC in the amount of $2.3 million. Thus, the AAM’s total debt to the Azerbaijani bank reached $6.2 million.

Credit institution

Amount

(million dollars)

Amsterdam Trade Bank

6.2

Gazprombank

6.2

International Bank of Azerbaijan

4.4

Atlas Copco

0.5

YapiKredi

2.6

PASHA Bank

6.2

Kapital Bank

0.5

Reza Vaziri

3.8

TOTAL

30.4

Cash on hand and at bank

-1.4

Net debt

29

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