Russian fertiliser company Acron has signed an up to US$525mn five-year pre-export loan facility with a syndicate of banks.
The deal was arranged by Société Générale CIB and involved Rosbank, HSBC, Bank of China (Luxembourg), Unicredit and International Investment Bank.
The money will be used to repay an existing US$400mn bridge term loan facility signed last April.
Acron’s senior vice-president Oscar Valters says: “Successful completion of the deal is a milestone event in the current challenging market environment. This long-term facility proves Acron’s strong creditability and enhances further the group’s liquidity profile.”