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Russia's VTB has exposure to Azerbaijan Railways, exec says
June 20, 2017 / 10:25 AM / 6 months ago

Russia's VTB has exposure to Azerbaijan Railways, exec says

LONDON, June 20 (Reuters) - VTB, Russia’s second-biggest bank, has exposure to Azerbaijan Railways (ADY), Yuri Soloviev, first deputy president of the bank, told reporters on Tuesday.

Last week, ADY issued a request for proposal for a financial adviser to explore options for a possible refinancing of its existing debt.

“We have exposure to ADY, they are paying the loan, they are a quasi-sovereign entity and we have good dialogue,” Soloviev said. He added that VTB did not have exposure to the International Bank of Azerbaijan, which is restructuring debt with some of its creditors. (Reporting by Sujata Rao and Dasha Afanasieva; Writing by Katya Golubkova; Editing by Alexander Winning)

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