US$24m Term Loan Facility Agreed for Bank Standard Azerbaijan
Mandated lead arrangers and bookrunners, Raiffeisen Zentralbank Österreich and Standard Bank (together mandated lead arrangers) have announced the successful closing and signing of the US$24m term loan facility for JSC Bank Standard of Azerbaijan. The transaction was launched on the 19 March 2007 at US$10m to a select group of banks (the club). The club loan closed oversubscribed and the borrower has elected to increase the facility amount to US$24m. The loan has been successfully concluded by Bank Standard without the involvement of an international financial institution. The termination date of the facility is six months from signing date and pays a margin of 300 bps per annum over LIBOR. The facility will be used for general corporate purposes, including trade related purposes.