OREANDA-NEWS. October 24, 2011. Sberbank of Russia and EuroChem signed a long-term RUB20 billion loan agreement, reported the press-centre of Sberbank.

EuroChem will use the loan for general corporate purposes, including investment programme financing and potential M&As.

‘Financing mineral fertilizer manufacturers is a key lending priority for Sberbank. Despite market volatility, we continue to develop relationships with our customers’, said Alexander Bazarov, VP and Director of Major Accounts Department of Sberbank. 

‘EuroChem is pleased to welcome Russia’s largest financial institution in its credit portfolio, particularly at the time of heightened volatility in the financial markets. Proceeds from this loan will allow EuroChem to continue strengthening its competitiveness in the global agrochemical markets in line with the company’s strategy’, said Andrey Ilyin, EuroChem’s Director for Finance and Economy.