Uralkali Signs US$665 Million 5-year Pre-Export Facility

20.05.2020

Uralkali (the Company; Moscow Exchange: URKA), one of the world’s largest potash producers, has signed a loan agreement in the amount of US$665 million with 11 international banks.

Mandated Lead Arrangers and Bookrunners of the pre-export finance facility were Bank of China Limited, Crédit Agricole Corporate & Investment Bank, ING, Mitsubishi UFJ Financial Group, Russian regional development bank, SGBTCI and Société Générale.

Commerzbank Aktiengesellschaft, Filiale Luxemburg and Mizuho Bank Ltd joined the facility as Mandated Lead Arrangers, J.P. MORGAN SECURITIES PLC and AO Raiffeisenbank as Lead Arrangers, and Bank ICBC (JSC) as Non-Lead Arranger.

ING acted as Coordinator and Documentation Agent.

Crédit Agricole Corporate & Investment Bank acted as Facility Agent and Security Agent.

The interest rate is LIBOR plus 220 bps margin with a loan maturity of 5 years. The loan will be used for refinancing of Uralkali’s existing loans and general corporate purposes.

Anton Vishanenko, Uralkali CFO, commented:

In current challenging market conditions it is especially important for us that not only our constant partners with long-term trusting relationship demonstrate readiness for cooperation with Uralkali but also credit institutions, including those from the USA and Japan, that haven’t participated in previous pre-export facilities.

We are grateful to our partners for support, as well as for the objective assessment of the fundamental characteristics of the Russian potash sector, and hope for a further fruitful and mutually beneficial cooperation.

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 more than 12,000 people in the main production unit. Uralkali’s shares are traded on the Moscow Exchange.

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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.