Rosbank acted as one of the arrangers of a syndicated pre-export finance facility for EuroChem Group AG in a total amount of $750 million
Rosbank, together with Societe Generale and a pool of other international lenders, acted as Mandated Lead Arranger, of a 4-year US$750 million pre-export finance facility for EuroChem Group AG (hereinafter "EuroChem"). The Company plans to use the loan proceeds to refinance part of its debt as well as for capital expenditure and other general corporate purposes.
The initial facility amount was $500 million with an option to increase. Despite challenging market conditions, the transaction showed robust demand from international lenders resulted in to a twofold oversubscription in the order book compared to the initial facility amount.
"EuroChem" is a leading global agrochemical company, producing primarily nitrogen and phosphate fertilizers. The Group is vertically integrated with activities spanning from mining and hydrocarbons extraction to fertilizer production, logistics, and distribution.
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”.
Rosbank’s Deputy Chairman of the Management Board, Head of Coverage and Investment Banking for Russia/CIS, Societe Generale Corporate & Investment Banking, Ilya Polyakov commented: “The successful completion of this deal is a great achievement in the current challenging market environment and is the result of outstanding team work between EuroChem and the Mandated Lead Arrangers. Rosbank’s participation in the arrangement of this transaction proves the importance of long-term relationships with our key clients and confirms our structured commodity finance expertise.”