LONDON, 9 February 2011 – Deutsche Bank AG London today announced the recent signing of a USD 50 million Term Loan Facility for International Bank of Azerbaijan (“IBA”). The loan has a two year maturity and pays a margin of 4.5% per annum.
Ben Dobson, director of Structured Trade & Export Finance in Deutsche Bank's Global Transaction Banking division in London, said, "Deutsche Bank is very pleased to sign its first loan for IBA. This transaction reflects how highly we regard Azerbaijan as an important market offering us new opportunities to serve client needs."
Mr Mustafayev, Deputy Chairman of IBA, said, "We are pleased to further strengthen our relationship with Deutsche Bank by signing this USD50m loan which we will use to provide one of our core Azeri customers with trade related finance.”
IBA is the largest bank in Azerbaijan – accounting for approximately 45% of the country’s banking assets. The Bank, which has a BBB- rating from Fitch, is 50.2% owned by the Government.
For further information, please call:
Deutsche Bank AG
Name : Libby Young
Phone: +44 (0) 20 7545 6941
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Deutsche Bank is a leading global investment bank with a strong private clients franchise. A leader in Germany and Europe, the bank is continuously growing in North America, Asia and key emerging markets. With more than 100,000 employees in 74 countries, Deutsche Bank offers unparalleled financial services throughout the world. The bank competes to be the leading global provider of financial solutions for demanding clients creating exceptional value for its shareholders and people.