trending Market Intelligence /marketintelligence/en/news-insights/trending/IDL4ejITMJEw_nycucIfbg2 content esgSubNav
In This List

Report: Azerbaijan has 'alternative' plan for local bank's debt restructuring

Blog

Banking Essentials Newsletter: 7th February Edition

Case Study

A Bank Outsources Data Gathering to Meet Basel III Regulations

Podcast

Private Markets 360° | Episode 8: Powering the Global Private Markets (with Adam Kansler of S&P Global Market Intelligence)

Blog

Banks’ Response to Rising Rates & Liquidity Concerns


Report: Azerbaijan has 'alternative' plan for local bank's debt restructuring

Azerbaijan has an "alternative" to the debt restructuring plan recently put forward by OJSC International Bank of Azerbaijan in case creditors do not vote in favor of that proposal, Reuters reported May 30, citing Rufat Aslanli, chairman of the country's financial markets supervisory authority.

Aslanli reportedly did not reveal the exact details of the alternative plan, but he added that it would not involve placing any restrictions on the deposits held by the lender's retail or business clients.

After announcing a debt restructuring earlier in May, International Bank of Azerbaijan offered to swap the bank's debt for sovereign bonds with a haircut. Moody's and Fitch both subsequently downgraded the bank.