IBA – Moscow Draws Club Loan
OREANDA-NEWS. October 27, 2010. ZAO Raiffeisenbank, Raiffeisen Bank International AG, OTP Bank Plc., Hungary and OTP Bank (Russia), acted as the mandated lead arrangers of a club loan for "THE INTERNATIONAL BANK OF AZERBAIJAN — MOSCOW", reported the press-centre of Raiffeisenbank.
The facility agreement was signed September 23, while the facility was disbursed October 13, 2010. The loan is a USD 15 million two-year facility, with an 18-month extension option. The loan is guaranteed by THE INTERNATIONAL BANK OF AZERBAIJAN OPEN JOINT STOCK COMPANY (Azerbaijan, Baku). The loan is granted for trade finance purposes — on-lending to the customers of "THE INTERNATIONAL BANK OF AZERBAIJAN — MOSCOW" to finance their import contracts.
"This is the first long-term club loan facility arranged for "THE INTERNATIONAL BANK OF AZERBAIJAN — MOSCOW", which evidences investors’ growing confidence in the borrower in the current reviving bank syndications’ market", says Sergei Monin, Deputy Chairman of the Board, ZAO Raiffeisenbank.
Raiffeisenbank is recognized as a leader on the Russian corporate bond market. In 2001-2009 Raiffeisenbank acted as a lead manager or co-manager for 163 corporate bond issues with a total nominal value of RUR 582 billion.
In 2005-2008 Raiffeisenbank acted as the lead arranger of syndicated loans for Russian borrowers in the area of retail trade, fuel and energy complex, transport, metallurgy, commercial real estate, telecommunications, tourism and banking for a total of USD 9,292 billion.
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