Uralkali (the Company; MICEX: URKA), one of the world’s largest potash producers, has signed a revolving credit line in the amount of up to US$750 million with PJSC "Sberbank of Russia’, Sberbank AG (Switzerland) and SIB (CYPRUS) LIMITED.
The availability period of the credit line is 3 years, during which Uralkali can borrow funds in tranches and with different maturities within the limit and the tenor of the credit line availability. The funds raised can be used for Company’s general corporate purposes, including refinancing of its current debt obligations.
Anton Vishanenko, Uralkali CFO, commented:
“This Agreement definitely could be considered important for Uralkali and can be used as an option for financing in the current or coming years. We highly appreciate our long-term and successful partnership with Sberbank and hope for its further strengthening and development.”
Uralkali (www.uralkali.com) is one of the world’s largest potash producers and exporters. The Company’s assets consist of 5 mines and 7 ore-treatment mills situated in the towns of Berezniki and Solikamsk (Perm Territory, Russia). Uralkali employs ca.11,000 people (in the main production unit). Uralkali’s shares are traded on the Moscow Exchange.