OREANDA-NEWS. Sberbank CIB organised two lines of credit for Uralkali, worth a total of 3.9 billion U.S. dollars for 7 and 10 years. The facility agreements were signed on March 24, 2016.

The funds will be used for general corporate purposes and to refinance the credit portfolio.

This deal is yet another example of mutually beneficial cooperation between Sberbank CIB and Uralkali.

Anton Vishanenko, Chief Financial Officer at Uralkali, commented: "Our company and Sberbank CIB have a longstanding partnership. These new lines of credit demonstrate fruitful cooperation between leaders of the industry."

"This is primarily long-term financing, which is rather rare given the current situation on global financial markets. By supporting the operations and projects of Uralkali, a leading producer of fertilisers, Sberbank CIB is participating in strategic initiatives aimed at developing this industry. This loan will help them maintain investment and provide confidence during a time of change on the fertiliser market," commented Natalia Ermakova, Managing Director, Head of the Industrials Division in Sberbank CIB's Client Management Department.