Belaruskali, Sberbank of Russia ink $1bn loan refinancing agreement
2012-10-24 18:09:13
The Belarusian company OAO Belaruskali and Sberbank of Russia have signed an agreement to refinance the $1 billion syndicated loan. OAO Belaruskali Director General Mr Valery Kiriyenko confirmed the fact for BelTA.
The deal has been struck, said the Belaruskali head.
He referred to the credit agreement that spans three years.
Thus, the one-year $1 billion syndicated loan of Sberbank of Russia and the Eurasian Development Bank will be refinanced. Belaruskali received the loan in December 2011. Sberbank had allocated $900 million of the loan while the Eurasian Development Bank had provided $100 million.
The Soligorsk-based company OAO Belaruskali is one of the world’s top manufacturers of potash fertilizers. The company was incorporated as a joint-stock company in 2012. Belaruskali accounts for about 15% of the global extraction of potash fertilizers and over 16% of the global export of potassium.