Frontclear closes another currency hedging transaction with Unibank and TCX in Azerbaijan
Frontclear arranged and structured an AZN/USD non-deliverable cross currency swap (NDCCS) transaction with Unibank Commercial Bank OJSC (Unibank). This transaction has made it possible for Unibank to effectively convert their USD liabilities into AZN liabilities, making it possible to provide its clients with local currency financing. The NDCCS transaction is documented under a Master ISDA Agreement. The transaction helped to further clarify certain legal issues related to close-out netting in Azerbaijan, which were mitigated by effective Frontclear deal arranging and structuring.
“We are happy to execute another ISDA derivative transaction in Azerbaijan and further advance the development of Azerbaijan’s money markets. The transaction strengthens global markets players’ ability to access the Azerbaijani market and mitigate legal risks in the country. Our involvement continues to promote best practices such as margining in Azerbaijan.” – Andrei Shinkevich, Senior VP Frontclear
Payments at UBank increase turnover!
From April 1, payments for utilities, cable TV, Internet, replenishment of mobile numbers made in UBank, will be added to the monthly turnover of customers.
Pay with Apple Pay / NFC in the supermarkets, earn 5% cashback!
Unibank presents a campaign for Mastercard and Visa holders. As part of the campaign, each payment of at least 10 AZN and more made using Apple Pay / NFC / Garmin Pay in any supermarket will give customers 5% cashback.
For the attention of all customers!
In connection with the suspension of “Visa” and “Mastercard” payment systems in the Russian market, cards of Azerbaijani banks, as well as Unibank cards, will not work in Russia.