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FACTBOX-Azeri bank IBA's debts under restructuring plan
May 12, 2017 / 2:55 PM / 5 months ago

FACTBOX-Azeri bank IBA's debts under restructuring plan

    May 12 (Reuters) - 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
    

 (Reporting by Alexander Winning; editing by Katya Golubkova and David Stamp)
  

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