Uralkali expecting to take remaining $800 mln in Sberbank loan in dollars
MOSCOW. Dec 18 (Interfax) - Uralkali in November took another $600 million in a Sberbank credit, which was raised in December 2013 and is planning to take the remaining funds in dollars, the company's financial director, Anton Vishchanenko, said during a conference call.
"A month ago we took $600 million at a 3.55% interest rate. We are planning to take the remaining $800 million. We want to receive these funds in dollars, not rubles, because dollars are our operating currency," he said.
He had trouble forecasting an interest rate at which Sberbank would be ready to give the company the funds in dollars.
Vishchanenko said that the company is planning on Friday to discuss the conditions of drawing the loan from Sberbank.
In December Sberbank opened a non-renewable credit line for Uralkali for $2 billion for the refinancing of its debt. Uralkali already took $600 million from this credit line earlier.