International Bank of Azerbaijan, the largest bank and the only one that's state-owned in the oil-rich country, has secured a $200 million syndicated loan to use for corporate needs.
Leading managers of the transaction were “Citibank”, “Credit Suisse A.G.” “London Branch” (“Credit Suisse”), “Emirates NBD Capital Limited” (ENBD) and “J.P. Morgan”.
The transaction was intended to raise $150 million, but strong interest from international investors led to heavy oversubscription and enabled the bank to increase the amount to $200 million. This is the first syndicated loan since April 2015, the bank said in a statement.
"The strong support for this facility demonstrates the growing confidence and trust international investors place in the Azeri banking system and particularly in IBA," the bank said.
The bank holds 37.9 percent of the country's banking assets, 32.5% of customer loans and 26.5% of bank savings
Follow us on Telegram
t.me/apanewsaz
Follow us on Instagram
Follow us on TikTok
Follow us on Facebook
Follow us on X
