Uralkali takes first ECA-backed loan, for mine expansion

Potash producer Uralkali has signed its first ever loan backed by an export credit agency guarantee, to finance construction of two vertical shafts at one of its mines.

  • By Michael Turner
  • 30 Oct 2013

UniCredit and DZ Bank are providing the $238m 14 year financing, backed by Euler Hermes, the French-German export credit agency (ECA).

Euler Hermes agreed to provide political and commercial risk insurance to the loan because the shaft construction will be undertaken by German engineering company Deilmann-Haniel Schachtostroj.

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