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CMS advises PJSC URALKALI on its debut $1.25bn sustainability-linked pre-export finance facility

15 June 2021

CMS has advised PJSC Uralkali on its debut $1.25bn sustainability-linked pre-export finance facility arranged by, among others, COMMERZBANK CRÉDIT AGRICOLE CORPORATE & INVESTMENT BANK, ING BANK, SOCIETE GENERALE, INTESA SANPAOLO, RUSSIAN REGIONAL DEVELOPMENT BANK, NATIXIS and SBERBANK, with ING BANK acting as the lead sustainability coordinator. 

This is a landmark deal for one of the world’s largest producers and exporters of potash. PJSC Uralkali is the first among CEE producers of mineral fertilizers to attract sustainability-linked financing of such a significant amount. As of now, it is also the largest sustainability-linked syndicated loan raised in Russia and CIS. Key performance indicators that feature in the financing cover ecological issues as well as the safety operations of the company. 

CMS’ team was led by dual-qualified counsel Elena Tchoubykina. Elena commented: “It is very exciting to see an ESG deal of this size, oversubscribed and with such an impressive lender syndicate of 18 banks, close in the Russian market. It clearly signifies that the future of the international (and, in fact, local) financing is “green”. Needless to say that CMS is proud to contribute to closing of this transaction given that sustainability matters are becoming increasingly important for the firm, becoming inseparable part of its’ consulting and corporate culture.”

Other CMS team members included banking and finance partner Ana Radnev and associate Aleksander Zhuravkov. The lenders were represented by Dentons. 

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CMS advises PJSC Uralkali on its debut $1.25bn sustainability-linked pre-export finance facility
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CMS team

Portrait of Elena Tchoubykina
Elena Tchoubykina
Counsel
Moscow
Portrait of Ana Radnev
Ana Radnev
Partner
Bucharest
Alexander Zhuravkov