Acron pays off $382 mln in credits preterm in Q4
MOSCOW. Feb 14 (Interfax) - OJSC Acron paid off a club pre-export credit of $425 million ahead of its due date last November, the company's report to Russian Accounting Standards (RAS) says.
This loan was received in 2010 to finance current operations and refinance some of the company's debt obligations.
The report says that the first tranche of $325 million was repaid on time in July of last year, and the second tranche of $100 was repaid in November. The latter was due this month. The organizers of the credit were CJSC Raiffeisenbank and Raiffeisen Bank International AG. The average rate on the first tranche was 4.38% per annum and on the second - 3.97%.
Last November, Acron also paid off preterm a credit of $300 million organized by HSBC for pre-export financing. The company was to repay the money in April of 2017. The average interest rate on the credit was 5.16% p.a.
The fertilizer producer also paid off its $140 million in debt to UniCredit Bank in December, which credit was to fall due in September of 2016. The average rate here was 4.02%.
Total debt principal for early repayment in the fourth quarter stood at $382.1 million on September 30.
In October of last year, Sviaz-Bank , part of the VEB group, opened a revolving credit line for Acron with a limit of $240 million for a three-year term. The average interest rate on this loan is 3.84% p.a.