International bank of Azerbaijan (IBA-Moscow) has signed a next credit agreement on receiving a syndicated credit, Trend reports referring to a message spread by IBA.
The organizers on the credit are: BAYERISCHE LANDESBANK, MASHREQBANK PSC, FINANSBANK (Holland) N.V., LANDESBANK SACHSEN GIROZENTRALE, BANQUE DE COMMERCE ET DE PLACEMENTS S.A.
The amount of the credit is $15 mln. The credit is considered for 12 months (one year). According to the terms of the credit agreement, it might be prolonged for 12 more months (one year), under the consent of the creditors only. The interest rate of the credit is libor + 1,25 % per annum. The guarantee of IBA ensures the credit.
It has been for the first time over its activity in the Russian market when IBA-Moscow has received such a significant credit in USD that could be evidence of the status and reliability of the Bank, the message says.
All the funds to be received will be sent to financing the major activity of the Bank.