OREANDA-NEWS. August 13, 2010. Nordea Bank signs USD250 million credit facility with EuroChem, reported the press-centre of Nordea Bank.

The tenor of the facility is five years.

Under the terms of the agreement, it will be secured with guarantees from OJSC Kovdorsky GOK and OJSC Nevinnomyssky Azot.

The facility will be used for general corporate purposes.

Nordea Bank deputy CEO Mikhail Polyakov said: "Nordea Bank has been working with EuroChem since 2008. The signing of this credit line marks a notable milestone in our cooperation and will open new possibilities to develop our strategic partnership".

EuroChem CFO Andrey Ilyin said: "This facility marks another important step for EuroChem in securing the long-term financing necessary for our potash and other strategic projects".

EuroChem Head of Corporate Finance Alexander Gavrilov said: "I am pleased that we have once again confirmed that EuroChem is able to attract long-term funds at attractive rates. Our recent experience with banks and the rouble bonds market show that investors view EuroChem as a high-quality borrower".