OREANDA-NEWS. Sberbank CIB has organised financing for JSC Belaruskali in the form of a syndicated loan. Financing amounts to EUR 550 mln, will be provided for 5 years, and is secured by a guarantee from the Government of the Republic of Belarus.

The credit facility was provided by Sberbank of Russia and Sberbank Europe AG. The facility agent is Sberbank of Russia.

Sberbank Group and JSC Belaruskali have a long history of collaborative work. Besides cooperating on lending, joint work with BPS-Sberbank involving JSC Belaruskali's business activities is actively developing.

Natalia Ermakova, Managing Director of the Industrial Unit, Client Management Department, Sberbank CIB, commented: "I'd like to thank JSC Belaruskali for their trust and interest in developing our partnership. This deal applies a comprehensive approach to resolving issues on both sides and also takes the Bank's strategic interests into account. Thanks to individual financial solutions and the participation of Sberbank Group's European unit - Sberbank Europe AG - we were able to provide our client with financing at an attractive cost."

JSC Belaruskali is one of the world's leading producers of potash fertilisers, with a global production share of more than 18%. The company has a production capacity of 12.6 mln tonnes. Belaruskali supplies its products to more than 90 countries. It develops the Starobin deposit, one of the world's largest and CIS's second largest potash deposits. The Republic of Belarus holds a 100% stake in Belaruskali.