FACTBOX-Azeri bank IBA's debts under restructuring plan
Creditor Instrument Maturity Currency Amount outstanding Bayerishe Trade finance 28/01/18 EUR 10,957,790 Landesbank, Munich Cargill Trade finance 2017-2019 USD 714,964,700* Citibank (agent) Syndicated loan 31/10/17 USD 205,000,000 Citibank Eurobonds 11/06/19 USD 500,000,000 (trustee) Commerzbank Trade finance 2019-2021 EUR 19,684,461** Emerald Private 09/10/24 USD 250,000,000 placement FBME Bilateral loan N/A USD 111,615,361 Intesa Sanpaolo Trade finance 09/07/18 EUR 529,635 Rubrika Finance Subordinated 10/05/17 USD 100,000,000 Company Ltd debt Landesbank Trade finance 30/06/25 EUR 43,948,682 Berlin Sberbank Bilateral loan 21/07/17 USD 20,000,000 Societe Generale Trade finance 02/01/18 USD 1,871,220 Societe Generale Trade finance 18/06/25 EUR 43,393,773 Credit Suisse Syndicated loan 12-27/08/19 USD 256,000,000*** AG(agent) SOFAZ Deposit 2017-2018 USD 1,000,000,000**** * Total of 11 trade finance loans ** Total of 3 trade finance loans *** Total of 3 syndicated loans **** Total of 2 deposits
Azerbaijan's biggest bank, the International Bank of Azerbaijan, published on Friday an indicative restructuring plan after it suspended payments on some of its debts. The bank's troubles are the most dramatic sign that an economic slowdown in energy producer Azerbaijan is now threatening the health of its banking sector. IBA gave its debts due to be restructured at $3.3 billion as of April 18 under the plan published on its website. It has roughly $1.3 billion of debts due in 2017 and over $750 million in 2018, according to the plan. Below are some of IBA's main creditors. Creditor Instrument Maturity Currency Amount outstanding Bayerishe Trade finance 28/01/18 EUR 10,957,790 Landesbank, Munich Cargill Trade finance 2017-2019 USD 714,964,700* Citibank (agent) Syndicated loan 31/10/17 USD 205,000,000 Citibank Eurobonds 11/06/19 USD 500,000,000 (trustee) Commerzbank Trade finance 2019-2021 EUR 19,684,461** Emerald Private 09/10/24 USD 250,000,000 placement FBME Bilateral loan N/A USD 111,615,361 Intesa Sanpaolo Trade finance 09/07/18 EUR 529,635 Rubrika Finance Subordinated 10/05/17 USD 100,000,000 Company Ltd debt Landesbank Trade finance 30/06/25 EUR 43,948,682 Berlin Sberbank Bilateral loan 21/07/17 USD 20,000,000 Societe Generale Trade finance 02/01/18 USD 1,871,220 Societe Generale Trade finance 18/06/25 EUR 43,393,773 Credit Suisse Syndicated loan 12-27/08/19 USD 256,000,000*** AG(agent) SOFAZ Deposit 2017-2018 USD 1,000,000,000**** * Total of 11 trade finance loans ** Total of 3 trade finance loans *** Total of 3 syndicated loans **** Total of 2 deposits
(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)
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