Unibank has taken a USD 25 mln term Loan for 1 year

Open Joint-Stock Company, Unibank Commercial Bank (the “Borrower”) has mandated Raiffeisen Bank International AG (the “Bookrunner”) to arrange a USD 25,000,000 Syndicated Term Loan Facility (the “Facility”) on its behalf. The Facility, signed on 9 September 2013, was structured as a 364-day general corporate purpose loan which, can be extended for another year at Borrower’s request. The transaction was initially announced to the market with USD 20,000,000 target amount and during the syndication process, various European banks expressed interest and offered support, which helped create solid momentum and ultimately led to a healthy oversubscription to USD 32,150,000. Unibank opted to take USD 25,000,000 to meet their funding purpose. The Bookrunner and Unibank are pleased with yet another successful syndication out of Azerbaijan and were delighted to be joined by AKA Export Finance Bank, JSCB “NOVIKOMBANK” as Mandated Lead Arrangers, Banque de Commerce et de Placements, Banca Transilvania S.A. Cluj Napoca, Commerzbank Aktiengesellschaft, Sviaz-Bank as Arrangers, Baltikums Bank AS, Banka Kombëtare Tregtare Sh.a. and International Asset Bank AD as Lead Managers. Unibank Commercial Bank OJSC was founded in 2002 as a result of a merger between two privately established financial institutions: “MBANK” (1992) and “PROMTEKHBANK” (1994). Unibank provides commercial and retail banking operations to SMEs and individuals in Azerbaijan. It has been operating under a full banking license issued by the Central Bank of the Republic of Azerbaijan since 1992. As of YE 2012, Unibank had assets of AZN 578 million (USD 737 million) as per IFRS, ranking it sixth in terms of assets among banks operating in Azerbaijan (source: Moody’s) During the same year, the net profit reported by Unibank was AZN 4.9 million (USD 6.25 million). Currently, Unibank operates through a network of 31 branches and offices and employs 1,454 personnel. The main shareholder of Unibank is Mr. Eldar Garibov, a local businessman, whose ownership accounts for 50.8% of the shareholders’ capital. Since 2003, the other Unibank OJSC Press Release 2/2 prominent shareholders include EBRD with 15.15% shares and DEG (a member of KfW Group) with 8.33% shares. Unibank is rated B2/B by Moody’s and Fitch Rating Agency with stable outlook.

• Full name
  OJSC Unibank Commersial Bank
• Registration country
  Azerbaijan
• Industry
  Banks