UniCredit Bank Austria allocates $250 million loan to SOCAR Trading Group

Baku, June 23, AZERTAC UniCredit Bank Austria AG has allocated a loan worth $250 million to several companies that are part of SOCAR Trading Group, a trading house of Azerbaijani state oil company SOCAR. The loan was allocated to support trading activity of the respective companies. The Norton Rose Fulbright global law firm acts as legal advisor for this deal. Headquartered in Geneva, SOCAR Trading was incorporated in December 2007 as the trading house of SOCAR with a mandate to market Azerbaijani barrels produced from the Azeri-Chirag-Guneshli field and other surrounding fields in Azerbaijan.