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News

05.09.2014

Societe Generale and Rosbank acted as mandated lead arrangers of a loan facility in favour of EuroChem

Societe Generale and Rosbank being part of the syndicate of international banks acted as Mandated Lead Arrangers on a US$ 750 million loan facility in favour of EuroChem for the financing of its Usolskiy potash project. Societe Generale acted as both facility and security agent. The related documents were signed on 29 August, 2014.

 

The facility is structured as a non-recourse Project Finance facility with 8-year tenor and 4.5-year grace period followed by a repayment adjusted according to the project’s cash flows. The pioneering structure of the deal has given necessary comfort to the Lenders, securing long-term funding for EuroChem’s strategic vision without putting pressure on Group’s overall leverage and borrowing capacity.

Ilya Polyakov, Deputy Chairman of the Management Board of Rosbank, Head of Coverage and Investment Banking for Russia/CIS, Societe Generale Corporate & Investment Banking: "Societe Generale and Rosbank are pleased to support EuroChem in the financing of the Usolsky potash project, demonstrating our long-term commitment to key clients and the bank’s project finance expertise. We are delighted to be a part of this benchmark transaction taking into account its unique structure and tenor for the Russian market".