Bayerische Landesbank (BayernLB), Calyon and UniCreditGroup (Bank Austria Creditanstalt and Bayerische Hypo- und Vereinsbank) as mandated lead arrangers have been mandated by International Bank of Azerbaijan (IBA) to arrange a US$80mn term loan facility.
Calyon and UniCreditGroup have been appointed bookrunners for the facility (the “Bookrunners”) and BayernLB will be the Facility Agent.
The Facility has a 364-day year maturity and carries a margin over LIBOR of 0.70% per annum. It will be used for general corporate purposes.
Syndication was launched today.
IBA was established in 1990 as the Azerbaijani office of the USSR’s Vnesheconombank. It is the largest bank in the South Caucasus in terms of assets’ scope, customer base, international banking relations, number of products and services delivered to customers. IBA is also the dominant financial institution in Azerbaijan, accounting for more than 50% of the country’s total banking assets. The ministry of finance controls 50.2% of IBA’s shares.