Uralkali raises syndicated $1.2 bln PFX facility
MOSCOW. April 29 (Interfax) - Uralkali has raised a syndicated five-year pre-export finance (PXF) facility of $1.2 billion, the Russian potash miner said in a statement.
The interest rate is LIBOR plus 325 bps. The loan will be used for general corporate purposes including refinancing of Uralkali's existing loans.
"The new self-arranged credit facility demonstrates strong commitment from leading international banks to provide financing support to Uralkali. Despite an unstable situation on commodity markets, the company managed to attract the largest syndicated loan in its history from 16 bank-participants," said Anton Vishanenko, Uralkali CFO.
The syndicate includes ING, Natixis, Sberbank Europe, SG CIB, Rosbank , Bank of China, Credit Agricole CIB, Intesa Sanpaolo, Bank of America Merrill Lynch, Citi, Commerzbank, Deutsche Bank, Raiffeisenbank, IKB Deutsche Industriebank, Agricultural Bank of China, ICBC and UniCredit.