Cross-border Hogan Lovells finance team advises lenders on US$450m loan facility to Uralkali
26 June 2014
MOSCOW, 26 June 2014 – Hogan Lovells advised Nordea as Mandated Lead Arranger, Bookrunner and Documentation Agent along with Commerzbank as Mandated Lead Arranger and Facility Agent, ING Bank, SG Group (Rosbank and SGBT Asset Based Funding) and UniCredit Bank as Mandated Lead Arrangers and Bookrunners on a US$450m unsecured club loan facility to Uralkali.
Uralkali (www.uralkali.com) is one of the world’s largest potash producers and exporters. Uralkali’s assets consist of 5 mines and 7 ore-treatment mills situated in the towns of Berezniki and Solikamsk (Perm Region, Russia). Uralkali employs around 11,300 people in the main production unit. Uralkali’s shares and GDRs are traded on the Moscow Exchange and London Stock Exchange, respectively.
The loan facility is a debut unsecured facility for Uralkali. It has a five-year term and will be used to refinance Uralkali's existing financial indebtedness and for general corporate purposes.
Hogan Lovells team advising the lenders was led by Alexander Rymko (partner, Moscow) and Andrew Taylor (partner, London) and assisted by Alexander Gasparyan (senior associate, Moscow) and Emma Milne (associate, London). The team also included:
- Aleksandar Dukic (partner, Washington DC);
- Philip Harle (partner, London);
- Louise Lamb (partner, London);
- Catherine Robert (of counsel, London); and
- Tom Eyre-Brook (associate, London).
Commenting on the transaction Alexander Rymko said:
"We are extremely delighted to have advised the lenders on this transaction. The deal demonstrates the ability of international financial institutions to make funds available to Russian top-tier borrowers in the current difficult market conditions. This transaction shows the strength of our finance and regulatory teams in Moscow, London and Washington DC and highlights our strong relationship with the club lenders as well as with Uralkali on finance related matters."