LONDON, May 23 (Reuters) - There is no reason for the International bank of Azerbaijan (IBA) to consider changing the terms of its debt restructuring offer, the bank’s advisor, Eric Lalo of Lazard said on Tuesday.
However, IBA would be happy to look at creditors’ categorisation as well as measures to ensure the new securities issued under the debt swap proposal would be well traded, Lalo told journalists. The offer classes investors as either trade finance creditors, senior creditors or subordinated debt holders.
Lalo was speaking after a meeting with investors, who were up in arms over the prospect of suffering debt writedowns and maturity extensions.
“The final determination of classes of creditors, that’s something we are happy to look at . Second, anything we need do to make sure the bonds are super liquid and in demand,” he said.
“But we cant see any reason to change the terms.” (Reporting by Karin Strohecker and Sujata Rao)