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International Asset Bank has prepaid club loan

28 July 2009

     July 27, 2009 - Bulgaria's International Asset Bank has prepaid a EUR 14 million club loan that was due to mature on August 25, the bank announced on Monday.

     "The decision to repay the loan ahead of schedule has been made due to the large current liquidity in the bank.", Elen Georgiev, CEO of International Asset Bank said.

     The 12-month loan was raised signed in August 2008 via Raiffeisen Zentralbank Oesterreich, Abanka Vipa, Banif, Hypo Alpe Adria Bank International AG, LHB Internationale Handelsbank AG, Mashreqbank PSC and Raiffeisen Landesbank Kärnten..

     The loan paid a margin of 225 bps over EURIBOR.