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Saturday, November 18, 2017

Russia's Uralkali gets $2 billion credit line from Sberbank

Russia's Uralkali, the world's largest potash producer, has secured a $2 billion credit line from Sberbank, Russia's largest lender.

The non-revolving and unsecured credit line will be used as a reserve facility for refinancing loans, Uralkali said in a statement. The line will be open from Feb. 1 to Dec. 31, and will mature on Dec. 18, 2019, according to Reuters.

Uralkali is traded on the London Stock Exchange using the symbol URKA, and its largest shareholder is billionaire Suleyman Kerimov. The company is based in Berezniki, Perm Krai.

Sberbank is the largest bank in Russia and Eastern Europe, and the third largest in Europe. Headquartered in Moscow, its history dates to 1841.

The bank offers a full range of savings, investment and lending services. The Central Bank of the Russian Federation is a majority shareholder, owning 50 percent plus one share of Sberbank's voting shares, with the rest of the shares dispersed among portfolio, private and other investors.