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Deal of the Year award for State Railways of Azerbaijan syndicated facility
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A US$220m syndication facility for the State Railways of Azerbaijan, where SMBC group is Mandated Lead Arranger, has been named as the Deal of the Year 2008 by Trade & Forfaiting Magazine. The deal was signed on 9 January 2009 and has two tranches – five and seven years, and was encouraged by a strong letter of support from the Ministry of Transport in Azerbaijan.
The deal will enable the development of the local railway system enabling more efficient transport of goods between the Caspian Sea and Black Sea, and vice versa, opening up the so-called Caspian corridor. It will also finance the purchase of new locomotives and railway tank cars and help to finance network improvements. The facility is in line with SMBC group’s regional policy to support the development of strategic transit routes and major regional transport corridors.
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