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IBA-Moscow secures a syndicated loan

IBA-Moscow secures a syndicated loan

03 December 2009 13:04 (UTC +04:00)

Baku. Elnur Huseynguluyev - APA-ECONOMICS. IBA-Moscow, the Russia-based subsidiary of International Bank of Azerbaijan, has received a $15 million syndicated loan.

The bank said the lead managers for syndication are the Rosemount Global Trade Finance Fund, VTB Bank (Austria) AG, Vienna, and VTB Bank (France) SA. Members Agreement - Banque de Commerce et de Placements, Commercial Bank of India LL, Moscow, FBN Bank (UK) and Credit Europe Bank NV.

The proceeds of loan will go to trade financing. With this included, the subsidiary has to date secured more than $130 million from foreign markets .

As of Oct. 1, the bank’s assets stood at 10.5 billion rubles, loan portfolio at 8.1 billion rubles, the total capital at 1.2 billion rubles.

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