Uralkali to raise $3.9 B from Sberbank

Moscow—Uralkali said March 16 that it has approved plans to raise a total of $3.9 billion from PJSC Sberbank in two credit lines, which will be split between a $2 billion line and a $1.9 billion line. The funds will be used for the refinancing of earlier credits received from the bank, as well as other general corporate purposes, the potash producer said. The announcement followed an extraordinary general meeting of shareholders on March 15, where the decision – first announced in January – was formally approved.