International Bank of Azerbaijan, US$500 million Eurobond, Azerbaijan


STJ acted as independent advisor to the International Bank of Azerbaijan on its debut US$500m Eurobond issue due 2019. Following successful roadshows in London, Germany and Switzerland, the 5-year deal priced at par, with a coupon of 5.625%. The RegS offering was rated Ba3/BB and proceeds will be used to pay down debt and for general corporate purposes. IBA is the only state owned bank in Azerbaijan – it is the market leader in terms of assets, gross loans and deposits, playing a key role in developing the Azerbaijani banking system and arranging financing for governmental projects to develop domestic infrastructure.

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