Press Release

Morgan Lewis Advises ING Bank N.V. on $750M Unsecured Term Club Facility for EuroChem

October 05, 2017

MOSCOW, LONDON, October 5, 2017: Morgan Lewis has advised ING Bank N.V. on a $750 million unsecured term club facility for the major global agrochemical holding EuroChem Group AG.

ING Bank N.V. was the coordinator and documentation agent for the deal, which involved a syndicate of leading international banks. UniCredit London acted as agent.

The five-year unsecured facility for EuroChem Group comes with a two-year grace period. The purpose of the facility is to refinance part of the company’s debt, including the full repayment of a pre-export facility signed in September 2016. The facility is guaranteed by the group’s producing entities in Russia.

Mandated lead arrangers of the facility were (in alphabetical order): BNP Paribas S.A., “BNP Paribas Bank” JSC, Citibank N.A. (London), Commerzbank Aktiengellschaft (Luxembourg), Crédit Agricole Corporate and Investment Bank, HSBC Bank plc, ING Bank, a branch of ING-DIBA AG, Mizhuho Bank, Ltd., Nordea Bank AB (publ), Public Joint-Stock Company Rosbank, Sberbank of Russia, The Bank of Tokyo-Mitsubishi UFJ, Ltd., and AO UniCredit Bank. UniCredit Bank AG (London) acted as agent. ING Bank N.V. acted as sole Coordinator and Documentation Agent. Dentons advised the company on the deal.

Partner Grigory Marinichev led the Morgan Lewis team.