15 May 2019
Acron Extends for Two Years a Syndicated Structured Pre-Export Finance Facility
for up to USD 750 Million
On 14 May 2019, Acron Group has executed an amendment agreement to extend their up to USD 750 million five-year syndicated structured pre-export finance facility which was originally signed with a group of relationship banks on 3 May 2017. The term of the facility has been extended for two years, and the grace period has been prolonged from two to four years.
The Coordinators and Bookrunners of the deal are ING Bank N.V. and AO UniCredit Bank. The lenders include AO UniCredit Bank, HSBC Bank plc, ING Bank Belgium SA/NV, Bank ICBC (JSC), SGBT Finance Ireland Designated Activity Company, PJSC Rosbank, Crédit Agricole Corporate & Investment Bank, Sberbank of Russia, Joint-Stock Commercial Bank “Bank of China (Russia)” and others with ING Bank N.V as the facility agent.
Acron Group Vice President for Finance and Economics Dmitry Balandin commented: “We are glad to announce this deal with a pool of international banks. The deal proves that Acron Group has high borrowing capacity and significantly improves our liquidity. By closing this transaction, we almost completely cover our refinancing needs for near future”.
Phone: +7 (495) 777-08-65 (ext. 5196)
Phone: +7 (495) 745-77-45 (ext. 5252)
Acron Group is a leading vertically integrated mineral fertiliser producer in Russia and globally, with chemical production facilities in Veliky Novgorod (Acron) and the Smolensk region (Dorogobuzh). The Group owns and operates a phosphate mine in Murmansk region (North-Western Phosphorous Company, NWPC) and is implementing a potash development project in Perm Krai (Verkhnekamsk Potash Company, VPC). It owns transportation and logistics infrastructure, including three Baltic port terminals and distribution networks in Russia and China. Acron’s subsidiary, North Atlantic Potash Inc. (NAP), holds mining licences for 11 parcels of the potassium salt deposit at Prairie Evaporite, Saskatchewan, Canada. Acron also holds a minority stake (19.8%) in Polish Grupa Azoty, one of the largest chemical producers in Europe.
In 2018, the Group sold 7.3 million tonnes of various products to 67 countries, with Russia, Brazil, Europe and the United States as key markets.
In 2018, the Group posted consolidated IFRS revenue of RUB 108,062 million (USD 1,723 million) and net profit of RUB 13,318 million (USD 212 million). Acron’s shares are on the Level 1 quotation list of the Moscow Exchange and its global depositary receipts are traded at the London Stock Exchange (ticker AKRN). Acron employs approximately 11,000 people.
For more information about Acron Group, please visit www.acron.ru/en.