ING in Russia

ING in Russia

ING Commercial Banking acted as one of the Mandated Lead Arrangers of USD 450 Million Unsecured Club Facility for Uralkali

ING Commercial Banking acted as one of the Mandated Lead Arrangers of USD 450 Million 5-year Unsecured Club Facility for Uralkali (LSE: URKA), one of the world’s largest potash producers.

Besides ING,  the Mandated Lead Arrangers of the facility are Commerzbank Aktiengesellschaft, OJSC Nordea Bank and SG Group (represented by Société Générale and “ROSBANK” (OJSC JSCB)), UniCredit Bank.

The self-arranged club deal was initiated in February 2014 and is the Company’s debut club unsecured facility.

The interest rate is LIBOR plus 175 bps margin with the loan maturity of five years. The loan facility will be used to refinance Uralkali’s existing loans.

Uralkali is one of the world’s largest potash producers and exporters. The Company’s assets consist of 5 mines and 7 ore-treatment mills situated in the towns of Berezniki and Solikamsk (Perm Region, Russia). Uralkali employs ca.11,300 people (in the main production unit). Uralkali’s shares and GDRs are traded on the Moscow Exchange and London Stock Exchange, respectively.