EuroChem Group AG announced the signing of a EUR 200 million, 5-year loan facility with a club of European banks.
Signed on 16 November 2015, the facility is provided to one of the Group’s European production subsidiaries (EuroChem Antwerpen) and includes a 2-year grace period. The proceeds will be used for debt refinancing and other general corporate purposes.
Andrey Ilyin, EuroChem CFO, commented: “This facility highlights the Group’s firm foothold in the European market and is underpinned by our robust network of global banking relationships.”
Alexander Gavrilov, Deputy CFO and Head of Corporate Finance, added: “This is another milestone facility for the Group, marking the first ever fund-raising exercise on the balance sheet of EuroChem’s European assets.”
ING Bank N.V., Intesa Sanpaolo Bank Luxembourg S.A., and Raiffeisen Bank International AG were retained and acted as mandated lead arrangers with ING Bank N.V. acting as the facility agent and coordinator.