IBA-Moscow signs another syndicated loan agreement with Russian bank
IBA-Moscow, a subsidiary of the International Bank of Azerbaijan,signed syndicated loan agreement worth $83.5 million with Russian Novikombank on October 15, Novikombank's website reported on Wednesday.
The loan financing was provided by Novikombank (Russia), MDM Bank (Russia), Sviaz-Bank (Russia), SME Bank (Russia), SMP Bank (Russia), Globex Bank (Russia), Bank of Moscow (Russia) and Baltikums Bank AS (Latvia).
Novikombank acted as Mandated Lead Arranger and Facility Agent.
Starting from 2012 this transaction was the second syndicated loan arranged by Novikombank for IBA-Moscow. The first loan was arranged in August for the total amount of $55 million. Expansion of cooperation with financial institutions of the CIS countries is high priority direction of Novikombank's policy to promote the development of foreign economic and business relations.
IBA-Moscow was established in 2002. At present, the bank's has 15 sales offices in Moscow, St. Petersburg and Yekaterinburg.
It is the first bank in Russia with foreign capital from the CIS. Its authorized capital amounts to RUB 856 million.
The official exchange rate is 31.12 USD/RUB on Oct.24.
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