IBA clinches unique $145m deal

The second half of 2012 has been marked for the International Bank of Azerbaijan by the successful signing of a $145 million bilateral loan with a final maturity of five years. Credit Suisse International, one of the world's leading institutions, acted as a lender in the transaction, the IBA said.

IBA, the largest bank in Azerbaijan, thus clinched a unique deal, as none of the local financial institutions has attracted a bilateral loan for such a long period so far.

The cooperation with Credit Suisse has been successfully ongoing over the last several years. For instance, Credit Suisse arranged for IBA two syndicated loans totaling $211 million in 2010.

As a result, the IBA continues following the strategy aimed to expand its operations in the world's financial markets.