EuroChem Group AG signs US$750 million pre-export finance club facility

EuroChem  Group  AG  (hereinafter  “EuroChem”, “Group” or “Company”), a leading global agrochemical company, today announces that it has signed a US$750 million pre-export finance facility (the “Facility”) with a club of leading international banks.

Structured  as  a  4-year  facility,  the  deal  comes  with  a  2-year  grace  period  and  achieved attractive pricing. The Company plans to use the proceeds to refinance part of its debt as well as for capital expenditure and other general corporate purposes.

Amid  challenging  market  conditions,  EuroChem’s  high-quality  borrower  status  once  again shone through as robust demand from international lenders led to a twofold oversubscription in the order book.

Andrey Ilyin, EuroChem CFO, commented: “We are pleased with the outcome and the level of support we saw from both our traditional lenders and some new relationships. The facility will help the Group continue to optimize its debt portfolio”.

Alexander Gavrilov, Deputy CFO and Head of Corporate Finance, added: “For a borrower with a significant Russian component in its business profile, we have secured very attractive pricing in the current environment. Our track record helped us overcome the headwinds, allowing our bank partners to focus on EuroChem’s underlying strength as a borrower”.

Mandated lead arrangers of the Facility are (in alphabetic order): Bank of America Merrill Lynch International Limited, Bank of China (Hungary) Close ltd, Commerzbank Aktiengesellschaft, Luxemburg Branch, Deutsche Bank AG, Amsterdam Branch, HSBC Bank plc, Intesa Sanpaolo S.p.A., London Branch, Natixis, Nordea Bank AB, PJSC Rosbank, Sberbank (Switzerland) AG, Société Générale, and UniCredit Bank Austria AG, with Deutsche Bank AG, Amsterdam Branch, acting as facility and security agent and Merrill Lynch International as fixed rate agent. Natixis acted as coordinator and documentation agent.

About EuroChem Group AG

EuroChem is a leading global agrochemical company, producing primarily nitrogen and phosphate fertilizers, as well as certain organic synthesis products and iron ore. The Group is vertically integrated with activities spanning from mining and hydrocarbons extraction to fertilizer production, logistics, and distribution. EuroChem is currently developing two sizeable potash deposits in Russia with its VolgaKaliy and Usolskiy Potash greenfield projects. Headquartered in Zug, Switzerland, the Group operates production facilities in Belgium, Lithuania, China, Kazakhstan and Russia and employs more than 22,000 people globally.

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