TODAY.AZ / Business

$4 million of credit agreement signed between Tekhnikabank and Toronto-Dominion Bank

16 February 2006 [04:00] - TODAY.AZ
A credit agreement was signed between Tekhnikabank and Toronto-Dominion Bank of Canada yesterday.

As APA reports according to the Head of the Administrative Board of Tekhnikabank Samir Huseynov, credit in amount of $4 million is provided for funding of leasing and trade operations in Azerbaijan.

According to S.Huseynov, credit is allocated for Tekhnikabank for 5-year period with first 6 months of grace period with LIBOR+2% per annum. $2 million of credit will be appropriated for the Tekhnikaleasing Company and $1 million for Tekhnikabank, and $1 million used for funding of future projects.

The beneficiary will implement repayment of the credit once a half-year.


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