Uralkali secures US$205mn loan

Uralkali secures US$205mn loan

Published: August 8, 2012

Potash producer broadens range of partner banks with five-year deal.

Uralkali, a Russian potash producer, has signed a US$205mn five-year syndicated loan.

The company will use the proceeds for general corporate finance purposes.

The loan is priced at LIBOR plus 250 basis points. Announcing the deal, CFO Viktor Belyakov said: “Uralkali is a first-rate borrower with a comfortable debt level. However, we continue to optimise our credit portfolio and we have been successful in securing this long-term financing on very favourable terms despite the ongoing instability in the financial markets. Moreover, we are broadening the range of partner banks of the company.”

Initial mandated lead arrangers and bookrunners were the Bank of Tokyo-Mitsubishi UFJ and Sumitomo Mitsui Banking Corporation Europe.

DZ Bank AG Deutsche Zentral-Genossenschaftsbank, Natixis and ZAO Industrial and Commercial Bank of China also participated in the deal.