January 22, 2018 / 3:23 PM / 3 months ago

International Bank of Azerbaijan seeks 180-day extension of restructuring

MOSCOW, Jan 22 (Reuters) - International Bank of Azerbaijan has applied to a local district court for a 180-day extension to its restructuring proceeding, D.F. King, an agent to the lender on the restructuring, said in a statement.

IBA, which is Azerbaijan’s biggest lender and is controlled by the state, is undertaking a $3.3 billion debt restructuring. (Reporting by Maria Kiselyova; Writing by Christian Lowe; Editing by Jack Stubbs and Toby Chopra)

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