Uralkali Successfully Places US$500 million 5-year Eurobond¹ at 4%

22.10.2019

Uralkali (the “Company”, Moscow Exchange: URKA), one of the world’s leading potash producers, today announces the successful placement of its US$500 million Eurobond offering maturing on 22 October 2024 with an annual coupon rate of 4%, reflecting strong investor demand. The Eurobond will be issued in the form of Loan Participation Notes and listed on the Euronext Dublin (Regulated Market).

The order book was twice oversubscribed, with the offering generating strong demand from high-calibre global institutional investors, including those from the US, UK and Continental Europe.

Anton Vishanenko, Uralkali CFO, commented:

We are pleased with Uralkali’s successful return to the international debt capital markets, having received strong interest from high-quality global fixed income investors. The success of this transaction is testament to our robust business strategy, prudent financial policy and strong liquidity position, as well as our proven track record of deleveraging.

Uralkali holds a leading position in the potash sector, with superior profitability, strong free cash flow generation and one of the lowest cash Costs of Goods Sold (COGS) per tonne globally. The Company is implementing several investment projects with one of the lowest capex per tonne in the industry.

J.P. Morgan, Sberbank CIB, Société Générale and VTB Capital acted as Global Coordinators and Bookrunners.

Crédit Agricole CIB, ING, Natixis, Renaissance Capital, UBS and UniCredit acted as Joint Bookrunners of the offering.

This announcement is not an offer of securities for sale in the United States. The securities to which these materials relate have not been registered under the US Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold in the United States or to, or for the account or benefit of, US persons absent registration or an exemption from registration or in a transaction not subject to the registration requirements under the Securities Act. There will be no public offering of the securities in the United States.

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 plants in the towns of Berezniki and Solikamsk (Perm Region, Russia). Uralkali employs ca. 12,000 people in the main production unit. Uralkali’s shares are traded on the Moscow Exchange.


1 Prospectus and other relevant documents may be found on Uralkali’s website https://www.uralkali.com/investors/fixed_income/eurobond.php#tab_2

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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.
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