CCB contributes to a $820 million USD syndicated loan to EuroChem Group AG for refinancing purposes (Linked to Record ID#87129)

Project narrative

In June 2018, a syndicate of 13 banks — including the Hungarian Branch of the Bank of China (BOC) and China Construction Bank Corporation (CCB) — signed a $820 million USD syndicated unsecured finance facility agreement with EuroChem Group AG — a Zug, Switzerland-headquartered agrochemical-fertilizer company effectively entirely beneficially owned by Russian billionaire entrepreneur and EuroChem Group and coal producer SUEK JSC founder Andrey Melnichenko and with the majority of its production assets in Russia, but other assets in Belgium, Lithuania, China, and Kazakhstan — for refinancing purposes. This loan carried a maturity period of three years and a grace period of two years. The proceeds were to be used to refinance part of its debt. Record ID#87129 captures BOC's contribution. Record ID#98839 captures CCB's contribution. In addition to BOC and CCB, the following lenders contributed to the loan syndicate: AO UniCredit Bank, AO Raiffeisenbank, Raiffeisen Bank International AG, Crédit Agricole Corporate and Investment Bank (CACIB), ING Bank, a branch of ING-DIBA AG, AO Citibank, Mizuho Bank, Ltd., AO Mizuho Bank (Moscow); MUFG Bank, Ltd., PJSC ROSBANK, and the London Branch of UniCredit Bank AG. BOC, CCB, CACIB, Citibank, ING, Mizuho, Mizuho Bank (Moscow), MUFG, ROSBANK, Raiffeisen Bank International, AO Raiffeisenbank, and AO UniCredit Bank served as mandated lead arrangers. AO UniCredit Bank, AO Raiffeisenbank, and Raiffeisen Bank International AG served as Coordinators. AO UniCredit Bank, CACIB, and ING Bank served as Bookrunners. The London Branch of UniCredit Bank AG served as facility agent. The facility was oversubscribed in syndication.