EuroChem to sign full amount by next week

By Michael Turner
15 Aug 2013

Russian fertiliser firm EuroChem will sign its controversially-priced $1bn loan next week. The firm has reached its target loan amount, even after two banks dropped out of the inner circle of its lending group.

EuroChem priced its first unsecured facility at 185bp — the same price the company paid for a pre export finance facility in 2011.

This caused two banks from the 2011 PXF to turn their backs on the new loan, as the 185bp margin would have seen them lending ...

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