Eurochem inks $1.3bn club deal
Russian mineral fertiliser producer EuroChem has signed its $1.3bn five year pre-export finance (PXF) loan. Bank of America, BTMU, Barclays Capital, BNP Paribas, Citi, Crédit Agricole, HSBC, ING, Natixis, Nordea, RBI, RBS, SMBC and ZAO Raiffeisenbank were mandated lead arrangers and bookrunners on the deal.
ING co-ordinated the oversubscribed transaction, with BNP Paribas acting as facility and security agent while Natixis was fixed rate agent. The 180bp headline margin matches the one paid on EuroChem’s last loan and the new facility has a two year grace period.
A third of the loan will refinance
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