Dentons’ Baku office has advised PASHA Bank, a leading investment and corporate bank in Azerbaijan, acting as an arranger for the US$15 million syndicated loan facility.

A Dentons team, headed by partner Kamal Mammadzada and counsel Ulvia Zeynalova-Bockin, acted as lead counsel on the project. Their work included drafting a bilingual Azerbaijani law precedent (based on the LMA precedent), negotiating among multiple parties, and bringing the deal to a close.

The project is unique in Azerbaijani banking market, as it is the first time a syndicated facility was arranged by a local bank based on Azerbaijani law governed documentation, in which other local and regional banks participated.

About PASHA Bank

PASHA Bank is a leading investment and corporate bank in Azerbaijan. Established in 2007, it provides a range of corporate banking services, including loans, securities, current account and treasury services, to both its domestic clients and foreign companies interested in doing business in the region. The Bank offers a range of financial products backed by trade finance-related partnerships with international banks and financial institutions. The Bank also offers underwriting services to legal entities and is the first in the local securities market to act as a market maker. PASHA Bank has also been offering private banking services to HNWIs since 2011 that include deposits, loans and financial planning.