EBRD and UniBank sign syndicated loan agreement

UniBank press service told APA that total amount of the second loan for UniBank is US$7.5mn. Apart from EBRD, the syndication involves six banks of Europe, USA and Russia. EBRD's stake in this syndication is $2.5mln. A-loan duration is three years and B-loan’s one year with possible prolongation of one year. The credit is purposed for SMB development.

The EBRD mission headed by chief banker Sardor Umurzakov is now in Baku to sign the agreement.

The first A/B loan agreement was signed in April last year. This syndication, apart from EBRD, involved Austrian Creditanstalt Bank and Anglo-Romanian Bank. The first loan amounted to US$5mn. From this credit link $1.5mn has been issued by EBRD for a period of three years and the remainder ($3.5mn) by Austrian Creditanstalt and Anglo-Romanian Bank for a period of one year with possible prolongation for one more year.