Bank Of Baku

IBA borrows $ 130 mln syndicated credits

IBA borrows $ 130 mln syndicated credits
# 12 November 2010 15:30 (UTC +04:00)
Baku. Vahab Rzayev – APA-Economics. International Bank of Azerbaijan signed a contract on borrowing $ 51 mln and 56 mln euros syndicated credit.

According to bank’s head of press service Rauf Agayev, the initial sum of credit is planned to eb $ 100 mln but then the investors increased this sum to $180 mln. In turn, IBA informed that it intended to borrow $ 130 mln. The intyerest rate of credit makes LIBOR/EURIBOR+2,75%. The credit was allocated for a year and will be spent to financing of trade operations.

The organizers of syndicated credit are: Citibank, Commerzbank, Aktiengesellschaft, Raiffeisen Bank INternational, Standard Chartered Bank and Standard Bank Plc. Generally, Demir-Halk Bank” (Hollandiya), “Coöperatieve Centrale Raiffeisen-Boerenleenbank”, “Landesbank Berlin AG”, “FBN Bank”, “Landesbank Baden-Württemberg” and “UniCredit Bank Austria” attend the syndication.

IBA has been in operation since 2001.
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