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Uralkali Signs US$530 Million 4-year Pre-Export Facility with Option to Increase Amount up to US$800 Million

20.04.2015
Uralkali Signs US$530 Million 4-year Pre-Export Facility with Option to Increase Amount up to US$800 Million

Uralkali (LSE: URKA; the Company), one of the world’s largest potash producers, has signed a loan agreement in the amount of US$530 million with eight international banks.

Natixis acted as Global Coordinator and Documentation Agent, ING Bank N.V. is acting as Facility and Security Agent and Société Générale as Fixed Rate Agent.

The Bookrunners and Mandated Lead Arrangers of the PXF facility are ING Bank N.V., Natixis, JSC Nordea Bank, PJSC ROSBANK and Société Générale Corporate & Investment Banking. Commerzbank joined as a Lead Arranger and IKB as Arranger. Industrial Commercial Bank of China (ICBC) and China Construction Bank and IKB also participated in the facility as a Lender.

The interest rate is LIBOR plus 330 bps margin with a loan maturity of four years. The loan facility will be used for general corporate purposes and to refinance Uralkalis existing loans.

Anton Vishanenko, Uralkali CFO, commented:

The new self-arranged pre-export facility, which we initiated in November 2014, demonstrates availability of international funding to top-tier Russian borrowers even during unfavourable macroeconomic conditions. Uralkali continues to develop relationships with foreign financial institutions and we see appetite for our business from our long-standing partners. The funds raised through this committed credit line will enable us to optimise our existing debt portfolio.

Uralkali (www.uralkali.com) is one of the worlds largest potash producers and exporters. The Companys 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). Uralkalis 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.