MOSCOW May 23 Dollar bonds issued by
state-owned International Bank of Azerbaijan (IBA) fell on
Tuesday after the bank offered creditors several options,
including a swap into sovereign debt, in its debt restructuring.
Data from Tradeweb showed that the bank's $500 million bond
maturing 2019 fell as much as 2.3 cents to
80.708 cents, its weakest since May 18.
IBA, which is Azerbaijan's biggest lender, is restructuring
more than $3 billion of its debt to tackle bad loans left over
from the slump in oil prices.
On Tuesday, an adviser to IBA said the bank's senior
creditors would have three options, one of which involved a
(Reporting by Alexander Winning; Editing by Louise Ireland)