Value of expected syndicated loans from Azerbaijan’s Pasha Bank revealed

By Trend

Azerbaijan’s Pasha Bank is in talks on the issuance of syndicated loans totaling up to $50 million to two companies, said Taleh Kazimov, chairman of the bank’s board, Trend reports.

Kazimov said that one syndicated loan was issued in 2018.

A loan of $15 million for a period of two years, with a rate of seven percent per annum, was provided to Anglo Asian Mining PLC (AAM), which is developing a deposit of precious metals in Azerbaijan, he noted.

Pasha Bank OJSC was established in June 2007 and operates on the basis of license No. 250 dated November 28, 2007, issued by the Central Bank of Azerbaijan.

Pasha Bank OJSC is a part of Pasha Holding, which is an investment company. Pasha Group also includes Kapital Bank, where the holding owns 99.75 percent of the shares.