Russian fertiliser company Acron has secured a US$400mn club deal.

The loan, which has a tenor of six months, was co-ordinated by Raiffeisenbank and Rosbank and joined by lenders Nordea, ING and ICBC Moscow. Raiffeisenbank also took the role as facility agent and documentation agent.

The facility is structured as an unsecured bridge loan to future pre-export financing to be backed by commodity exports.

“The club loan was well perceived by the market and raised commitments significantly exceeding the targeted amount, while Acron decided to retain initially targeted amount intact,” says a statement issued by the company.

The facility is governed by Russian law, and was signed on April 28.