SOFAZ Swaps $1 Billion in Debt for 7-Year IBA Bond

Posted on 07/20/2017


Creditors holding 93.9% of the affected credits of the International Bank of Azerbaijan (IBA) have approved of a US$ 3.3 billion restructuring plan. Some of IBA’s creditors include Chicago-based Cargill Financial Services International Inc., (holding trade finance loans), Intesa Sanpaolo SpA, Commerzbank AG, State Oil Fund of Azerbaijan (SOFAZ), Societe Generale SA and Bayerische Landesbank. […]