EuroChem lenders scaled back despite pricing grumbles

Russian fertiliser firm EuroChem has breezed past the $1bn soft target for its new loan, leading to scalebacks even after two relationship banks dropped out of the deal.

  • By Michael Turner
  • 06 Sep 2013
EuroChem (rated BB/BB) priced the five year deal — its first unsecured loan — with a 185bp margin. This is the same price the firm paid for a pre-export finance facility in 2011 and 30bp tighter than higher-rated Russian potash firm Uralkali (BBB-) paid for a $1bn ...

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