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Friday 16 September, 2011

JSC URALKALI

Uralkali refinances Sberbank loan

RNS Number : 3714O
JSC Uralkali
16 September 2011
 



September 16, 2011

 

Uralkali refinances Sberbank loan

 

Uralkali (LSE: URKA), one of the world's largest potash producers, has signed a loan agreement with a group of banks. The lead arrangers of the loan facility in the amount up to USD 1 000 million are Unicredit Group and ING Bank N.V. The company has been successful in securing a long term financing on very favorable terms (LIBOR plus 180bps with the loan durability of 5 years.) despite the increasing turbulence in the financial markets. The loan facility will be used for the refinancing of the Sberbank loan provided for the acquisition of the licence for the development of the Polovodovsky block of the Verkhnekamskoe potash and magnesium salt deposit.

 

Viktor Belyakov, Uralkali CFO, commented:

"Uralkali is a first-rate borrower having a comfortable debt level and optimal capital structure. However, we continue to optimise our credit portfolio. The new deal will allow us to make our credit portfolio more balanced with longer durability, less currency risks and lower average interest rate that will now amount about 3%. Moreover, as a result of this refinancing we are broadening the range of partner banks of the Company."

 

Enquiries:

Investor Relations

Anna Batarina, CFA

Head of Investor Relations and Capital Markets, Uralkali

Tel.: +7 (495) 730 2371

E-mail: anna.batarina@msc.uralkali.com


Media Relations

Alexey Sotskov

Head of Public Relations, Uralkali

Tel.: +7 (495) 730 2371

E-mail: alexey.sotskov@msc.uralkali.com

 

Brian Cattell / James Devas

Maitland Communications

Tel: +44 (20) 7379 5151

E-mail: bcattell@maitland.co.uk 

 

 

This announcement is not intended to, and does not constitute, or form part of, an offer to sell or an invitation to purchase, exchange or subscribe for any securities in any jurisdiction. This announcement does not constitute a prospectus or a prospectus equivalent document.

The release, publication or distribution of this announcement in jurisdictions other than the United Kingdom may be restricted by law and therefore any persons who are subject to the laws of any jurisdiction other than the United Kingdom should inform themselves about, and observe, any applicable requirements. This announcement has been prepared for the purposes of complying with English law and the information disclosed may not be the same as that which would have been disclosed if this announcement had been prepared in accordance with the laws and regulations of any jurisdiction outside of England.

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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