Will IBA repay or refinance its international debt ?

In the end of April, 2015 International Bank of Azerbaijan (IBA) secured a syndicated loan (loan extended to a single customer by multiple financial institutions) in the equivalent of 200 million dollars. Internationally syndicated loans are due to mature in the end of this April, 2016.

The lead managers of the loan were Citibank, ING Bank N.V, RaiffeisenBank, J.P. Morgan Limited International and UniCredit Bank Austria. The initial amount of loan was $125 million but later IBA raised the target till 200 million dollars. To find out whether  the bank will repay or refinance its  debt ANN.az contacted the Press Service of International Bank of Azerbaijan. Bank’s response was short: "Bank  fulfills its corresponding  commitment  in a timely manner.”