EBRD approves syndicated credit for UniBank

Business Materials 4 May 2006 18:12 (UTC +04:00)

The European Bank for Reconstruction and Development (EBRD) has approved a $7.5m credit line for the Azerbaijani commercial bank UniBank in meeting of the Board of Directors, Trend reports.

EBRDs share in the two-part syndicate is $2.5m for the term of 3 years. The second part of the credit in the amount of $5m will be financed by two European banks with the term of 1 year with possible prolongation for 1 year more with their agreement. Interest rate for entire credit line is Libor+4.5% a year.

Like the first syndicated credit, organized by the EBRD for this Azerbaijani bank, this line is intended to support the small and medium business.