OREANDA-NEWS. April 22, 2014. International Bank of Azerbaijan (IBA) mandated Amsterdam Trade Bank N.V., Citibank, N.A., London (Citi), Commerzbank Aktiengesellschaft (Commerzbank), ING Bank N.V., J.P. Morgan Limited and Raiffeisen Bank International AG (RBI),collectively the Bookrunners and Initial Mandated Lead Arrangers, to arrange a USD 125,000,000 equivalent Dual Currency Syndicated Term Loan Facility. Citi was appointed as Coordinator for the Facility.

A diverse group of 13 international lenders supported the Facility. The Facility launched at USD 125,000,000 and attracted over USD 35,000,000 equivalent in commitments during syndication, a 28% over-subscription resulting in an upsizing of the facility. 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 largest bank of the country.

The Facility has a tenor of 1-year. The proceeds will be used for general corporate purposes.