OREANDA-NEWS. December 02, 2009. IBA-MOSCOW, fully owned branch of International Bank of Azerbaijan, has recently signed an agreement on borrowing of syndicated loan with a total amount of USD 15,5 mln and EUR 10 mln. This is the first major deal of IBA-MOSCOW at the international financial markets in the current year which is guaranteed by International Bank of Azerbaijan, reported the press-centre of IBA-MOSCOW.

In the time of ongoing global financial crisis and the shortage of liquidity, this transaction serves as an evidence of confidence and great interest displayed by foreign Banks with respect to IBA-MOSCOW.
 
"Rosemount Global Trade Finance Fund" and "VTB Bank (Austria) AG, Vienna" and "VTB Bank (France) SA" have acted as the authorized organizers of this syndication. Altogether 7 banks from different countries have participated in this syndication including  "Banque de Commerce et de Placements", "Commercial Bank of India LL, Moscow", "FBN Bank" (UK) and "Credit Europe Bank N.V.".  Some of these banks have already participated in the organization of previous syndications for IBA as well as IBA-MOSCOW or granted to bank the credit facilities under the bilateral agreements.
 
In spite of the fact that the initially declared amount of syndication was at the level of USD 15 mln, nevertheless, as it was usually the case with conclusion of previous deals, as a result of a great interest shown by financial institutions with respect to IBA-MOSCOW, the total amount of this deal reached USD 15,5 mln and EUR 10 mln. The credit facilities were granted to the Bank for a period of 1 year for the purpose of trade operations financing.
 
It is appropriate to recall that the history of IBA-MOSCOW’s external borrowings date back to 2005 when has received a syndicated loan of USD 5 mln the Bank for the first time entered the external capital market. In 2006, 2007, and 2008, the Bank borrowed 3 jumbo loans in the amount of RUB 300 mln and USD 15 mln, USD 55 mln (2 syndicated loans with USD 5 mln and USD 50 mln) and USD 55 mln, respectively.
 
It is appropriate to recall that in the current year according to the main financial indicators, namely "assets", "credit portfolio", "corporate loans" the Bank joined TOP 150 Russian banks ("RBC-rating"), internet-site of IBA-MOSCOW joined "TOP-500 best Runet-resource about finance" and according to the results of first half-year 2009 IBA-MOSCOW took 155 place by net assets among Russian banks ("RBC-rating").