VTB Bank Europe, UniBank ink $15mln syndicated loan deal

VTB Bank Europe, UniBank ink $15mln syndicated loan deal
# 18 April 2007 13:59 (UTC +04:00)
On 16 April, Azerbaijan’s Unibank and VTB Bank Europe plc launched syndicated loan facility for $15mln with split tranches of 12 and 15 months.
This is the first fully syndicated facility for an Azeri private bank without the mediation of an international development institution.
‘The banking system of Azerbaijan and the whole national financial sector arouse intense interest of western investors now and it is natural that the investors firstly pay attention to the most successful and best-reputed banks. The progress of international relations is one of the priorities in the business of Unibank. We plan to have raised credit lines no less than $100mln from overseas investors by the end of this year,” said Faig Huseynov, Chairman of the Executive Board of Unibank.
Unibank is the most successful of the local private banks by raising more than $70mln from overseas funding. /APA-Economics/

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THE OPERATION IS BEING PERFORMED