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Azerbaijan's IBA to unveil revised debt restructure plan on Monday
June 16, 2017 / 1:03 PM / 2 months ago

Azerbaijan's IBA to unveil revised debt restructure plan on Monday

MOSCOW, June 16 (Reuters) - International Bank of Azerbaijan, the energy exporting country's biggest lender, said it has revised the terms of its debt restructuring plan after discussions with an ad hoc group of creditors represented by Clifford Chance.

"Such terms will be included in the information memorandum which will be published on Monday 19th of June 2017," IBA said on Friday.

The ad hoc group of creditors comprised some lenders who contributed to a $205 million senior bank facility arranged by Citibank and senior bank facilities arranged by Credit Suisse that were worth $148 million, $200 million and 27.9 million euros respectively, IBA said.

Reporting by Katya Golubkova; Editing by Susan Fenton

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