News Column

Azerbaijan : AZERBAIJAN: DEMIRBANK secures a syndicated loan of $ 37m from EBRD

June 2, 2014

The European Bank of Reconstruction and Development (EBRD) has expressed its willingness to arrange a syndicated loan of $37 million for the Azerbaijani DemirBank OJSC.

The EBRD has revealed that the bank s Board of Directors is prepared to approve the loan proposal on 25th June, 2014.

According to the EBRD, the lender will hold US$ 13 million of the planned syndicated financing, out of which US$ 3 million will be funded via the Financial Intermediaries Special Fund. The EBRD will syndicate the remaining amount of as much as US$ 37 million on the basis of top efforts.

The DemirBank of Azerbaijan will use the EBRD-led new syndicated loan facility to expand funds to micro, small and medium-sized enterprises.

For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: TendersInfo (India)

Story Tools Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters