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Tuesday, March 19, 2019

Raiffeisenbank closes syndicated deal for Bank IBA-Moscow

ZAO Raiffeisenbank, together with Raiffeisen Bank International AG as the initial mandated lead arrangers and book runners, recently closed a dual-tranche trade-related syndicated term loan facility deal for Bank IBA-Moscow, the Russian subsidiary of the International Bank of Azerbaijan.

The loan, signed on Nov. 25, was syndicated to the market and found placement among a broad international investor base, including Banka Kombлtare Tregtare Sh.a., Bayerische Landesbank, PPF Banka a.s. and Rosbank.

The two tranches of the loan are comprised of an $8.33 million and $29 million one-year facility with a 12 month extension option, guaranteed by International Bank of Azerbaijan Open Joint Stock Company and granted for trade finance purposes to the customers of the Bank IBA-Moscow to finance their import contracts.

"This has been one of the few deals with a wide syndication for a Russian bank on the international market lately. Its successful closing and composition of the lenders evidence foreign investors’ growing interest and confidence in the borrower," Nikita Patrakhin, a member of the board of ZAO Raiffeisenbank, said.

ZAO Raiffeisenbank is a subsidiary of Raiffeisen Bank International AG.