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30 April 2021
Acron Extends for Two Years a Syndicated Structured Pre-Export Finance Facility
for up to USD 750 Million
On 29 April 2021, Acron Group has executed an amendment agreement to extend its up to USD 750 million 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 another two years with new final maturity date in May 2026..
The Coordinators and Bookrunners of the deal are ING Bank N.V. and AO UniCredit Bank. The Mandated Lead Arrangers and Lenders include AO UniCredit Bank, ING Bank N.V., HSBC Bank plc, Crédit Agricole Corporate & Investment Bank, SGBT Finance Ireland Designated Activity Company, PJSC ROSBANK, Bank ICBC (JSC), Sberbank of Russia, Joint-Stock Commercial Bank “Bank of China (Russia)” 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 profile. By closing this transaction, we almost completely cover our refinancing needs for 2021”.
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 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 seaport terminals and distribution networks in Russia and China. Acron subsidiary North Atlantic Potash Inc. (NAP) holds mining leases and an exploration permit for ten parcels of the potassium salt deposit at Prairie Evaporite, Saskatchewan, Canada. Acron also holds a minority stake (19.8%) in Polish Grupa Azoty S.A., one of the largest chemical producers in Europe.
In 2020, the Group sold 7.8 million tonnes of main products to 74 countries, with Russia, Brazil, Europe and the United States as key markets.
In 2020, the Group posted consolidated IFRS revenue of RUB 119,864 million (USD 1,661 million), with EBITDA of RUB 35,311 million (USD 489 million). Acron’s shares are traded on the Moscow Exchange and its global depositary receipts are traded at the London Stock Exchange (ticker AKRN). Acron employs over 11,000 people.
For more information about Acron Group, please visit www.acron.ru/en.