Uralkali Signs USD 450 Million 5-year Unsecured Club Facility

19.06.2014
Uralkali Signs USD 450 Million 5-year Unsecured Club Facility

Uralkali (LSE: URKA; the Company), one of the world’s largest potash producers, has signed a loan agreement in the amount of USD 450 million with five international banks.

The Mandated Lead Arrangers of the unsecured facility are Commerzbank Aktiengesellschaft, ING Bank N.V., OJSC Nordea Bank, SG Group (represented by Société Générale and “ROSBANK” (OJSC JSCB)) and ZAO UniCredit Bank.

The self-arranged club deal was initiated in February 2014 and is the Company’s debut club unsecured facility.

OJSC Nordea Bank acted as Documentation Agent, Société Générale acted as Hedging Agent, ZAO Unicredit Bank acted as Passport Bank, and Commerzbank Aktiengesellschaft (Filiale Luxemburg) is acting as Facility Agent.

The interest rate is LIBOR plus 175 bps margin with the loan maturity of five years. The loan facility will be used to refinance Uralkali’s existing loans.

Viktor Belyakov, Uralkali CFO, commented:

The new self-arranged unsecured credit facility demonstrates the availability of international funding to top-tier Russian borrowers. Although Uralkali is not planning to increase its debt, we continue developing relationship with foreign financial institutions in order to obtain funding on favourable terms. The funds raised under the committed credit line will enable us to refinance a part of our existing facilities, decrease our financing costs and increase the share of unsecured financing in our loan portfolio.


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 Region, Russia). Uralkali employs ca.11,300 people (in the main production unit). Uralkali’s shares and GDRs are traded on the Moscow Exchange and London Stock Exchange, respectively.

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Cardinal rules

Smoking in mines is prohibited.
Work at heights without wearing a safety harness is prohibited.
Work in electrical installations under voltage is prohibited.
It is forbidden to perform work and stay in the bottomhole zone during the operation of the mining machine.
Loading and unloading operations when people are in the danger zone are prohibited.
Working in underground mines with unsecured and/or unassembled roofing is prohibited.
It is forbidden to carry out repairs and maintenance of conveyors without disconnecting from energy sources, use of conveyors for transfer of people and goods (materials and/or equipment), crossing (either above or under) operating conveyors by employees are not allowed.
It is forbidden to carry out welding and flame work in underground mines and mine buildings without the necessary safety measures preventing fire.