• Eng

Uralkali and Sberbank Sign Loan Agreement

20.12.2013
Uralkali and Sberbank Sign Loan Agreement

On 19 December 2013, Uralkali (LSE: URKA; the Company) and OJSC Sberbank (Sberbank) signed an agreement to open a non-revolving USD 2-billion credit line.

The credit line will be used as a reserve facility for refinancing existing loans according to their repayment schedules. It will be open from 1 February to 31 December 2014, and will mature on 18 December 2019. The significant condition of the agreement is the absence of obligation by the Company to use the full amount of the credit line.

Viktor Belyakov, CFO and acting CEO of Uralkali, commented:

This Sberbank loan is unsecured, which once again confirms Uralkali’s reputation as a first-rate borrower. The Company continues to generate stable cash flows and is working on its loan portfolio structure optimisation.

Uralkali (www.uralkali.com/) is one of the world’s largest potash producers with a share of about 20% in global potash production. The Company’s assets consist of 5 mines and 7 ore-treatment mills situated in the towns of Berezniki and Solikamsk (Perm Region, Russia). Uralkali employs ca.11,800 people (in the main production unit). Uralkali’s shares and GDRs are traded on the Moscow Exchange and LSE, respectively.

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