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Uralkali Signs Agreement with Promsvyazbank to Open a USD 250 Million Credit Line for 10 Years

04.08.2014
Uralkali Signs Agreement with Promsvyazbank to Open a USD 250 Million Credit Line for 10 Years

Uralkali (Company; LSE: URKA), one of the worlds leading potash producers, has signed an agreement with Promsvyazbank to open a USD 250 million credit line with a 10-year payback period.

The funds will be provided on an unsecured basis. The money will be used to refinance Uralkalis current liabilities and to finance existing investments.


Viktor Belyakov, Uralkali CFO, commented:

This new unsecured credit line demonstrates the ability of Russian financial institutions to provide long-term loans to Russian borrowers. Currently, Uralkali does not plan to increase its leverage; however, we continue to develop relationships with financial partners in order to receive funding on the most favorable terms. The funding secured within this transaction will make it possible for us to refinance part of our current liabilities, reduce financing costs and increase the average tenor and the amount of unsecured loans in our 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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