Bank IBA-Moscow signed a bi-currency syndicated loan on Nov. 25 for the purposes of trade finance clients.

The dual currency syndicate deal closed at $8.33 million and $29.51 million, according to a statement from the bank.

The initial mandated lead arrangers and bookrunners of the transaction were CJSC Raifeisen Bank and Raiffeisen Bank International AG.

Several international investors gave the transaction a positive response, including Banka Kombëtare Tregtare Sh.a., Bayerische Landesbank, PPF Banka as and JSC Rosbank. Rosbank participated as mandated lead arrangers.

The organizers were Baltikums Bank AS, Eurocity Bank AG and UBI Banca International sa. Anadolubank Netherland NV was a co- organizer and Raiffeisen Bank International AG acted as facility agent. Raiffaisen also made the documentation.

The offer had a one year credit period with a possible 12-month extension and secured by a guarantee from the International Bank of Azerbaijan.

Bank IBA Moscow was founded in 2002 as a subsidiary of the International Bank of Azerbaijan.