The syndicated loan1 for EuroChem Group’s Usolskiy Potash Plant, which Sberbank CIB2 helped organize, has been named “Deal of the Year” in the “Mining Infrastructure” category by the authoritative international publication Infrastructure Journal. The deal, which was structured as a US$750 mln non-recourse project financing for a term of eight years, was completed in December 2014. In addition to Sberbank CIB, the syndicate includes six banks: Crédit Agricole CIB, HSBC Bank PLC, ING Bank N.V., Rosbank, Société Générale S.A., UniCredit Bank. The funds were used to finance EuroChem Group’s potash project “Usolskiy Potash Plant”.
“The project financing for EuroChem with the participation of foreign banks was a landmark deal for the industry,” commented Natalia Ermakova, Head of Industrial Sector Division, Client Management Department, Managing Director. “The success of the syndicate and recognition from Infrastructure Journal are a testament to Sberbank CIB’s unique experience supporting its clients’ investment projects and broad capabilities in organizing project financing deals.”
Information for editors:
Infrastructure Journal is an analytical publication trusted by 80% of the largest financial institutions, 90% of the top law firms, and 85% of financial consultants. Infrastructure Journal’s IJGlobal Awards is among the most prestigious awards on the market. Only projects that are nearing completion are considered for awards. The Infrastructure Journal judging panel, which includes heads of leading investment banks, law firms, and experts in the field of project finance, evaluates the uniqueness, innovation and novelty of technology used in the project design.
EuroChem is a leading global agrochemical company, producing primarily nitrogen and phosphate fertilizers, as well as certain organic synthesis products and iron ore. The Group is vertically integrated with activities spanning from mining and natural gas extraction to fertilizer production, logistics, and distribution. EuroChem is currently developing two sizeable potash deposits in Russia with its VolgaKaliy and Usolskiy Potash greenfield projects. Headquartered in Moscow, it operates production facilities in Russia and Western Europe and employs more than 20,000 employees globally.
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The Corporate & Investment Banking Business (Sberbank CIB) was created as part of the integration of Sberbank of Russia and Troika Dialog. Sberbank CIB’s key areas of activity are corporate finance (including trade finance), the documentary business3, investment banking services, trade operations with securities, and private equity. Sberbank of Russia’s Corporate & Investment Banking Business provides integrated financial solutions and investment advisory services to its clients, which include major corporations, financial institutions, sovereign states and federal and sub-federal government bodies and organisations.
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