Uralkali, Moscow, has signed a sustainability-linked syndicated loan agreement for $1.25 billion with 18 international and Russian banks and financial institutions, which it said is the largest ever in Russia and the CIS.
Sustainability key performance indicators, to which the loan agreement is linked, cover ecological issues as well as the safety operations of the company, according to a June 9 statement by the Russian potash producer.
The base interest rate is LIBOR + 190 bps margin with a loan maturity of five years.
Uralkali said the loan will be used for refinancing of its existing loans and for general corporate purposes.
“Raising ESG financing is an important step in the development of the ESG strategy of the company and reflects our efforts in the development of production safety and the environmental protection in the region of operation,” said Uralkali CFO Anton Vishanenko.