Acron Group has executed an amendment agreement to extend their up to US$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”.
Read the article online at: https://www.worldfertilizer.com/phosphates/16052019/acron-extends-for-two-years-a-syndicated-structured-pre-export-finance-facility-for-up-to-us750-million/