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Wednesday, July 24, 2019

ROSBANK - RUSSIA: Rosbank acted as an authorized leading organizer of a syndicated loan to Eurochem Group for $820 million

RosBank - Russia issued the following announcement on July 25.

EuroChem Group AG is one of the leading mineral fertilizer producers of the world. The company signed a credit agreement for the sum of $820 million with the club of 13 leading international banks. PJSC ROSBANK acted as one of the authorized leading organizers of the deal.

The loan was granted for three years on the club basis with a debt payment moratorium of the first two years. Eurochem plans to use the received funds to refinance the part of its debt.

“In a current market environment we could refinance a part of our debt on good conditions. An order book was resigned and it reflects the loan quality of Eurochem and the level of support from international banks”, Ruslan Karmanny, Head of Corporate Finance and Treasury Department of Eurochem Group AG.

Eurochem is one of the leading producers of nitric, phosphoric and potassic fertilizers of the world as well as some industrial products and natural resources. The Group has a vertically integrated structure. The activity of Eurochem includes the extraction of natural resources and the production, logistics and distribution of fertilizers. Eurochem began producing the potassium on Usolsk potassium factory at the beginning of 2018 and it continues to develop the second Greenfield project called Eurochem-VolgaKaliy. The Head Office of the Group is situated in the city of Zug, Switzerland. Its factories are located in Europe, Asia and CIS. The group staff is 26000 workers all over the world.

Original source can be found here.

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