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EuroChem Gets $1Bln Loan

EuroChem agreed on a $1.3 billion pre-export finance loan, according to three people with knowledge of the deal.

The five-year facility will pay interest of 180 basis points over LIBOR, the people said. The proceeds will be used to refinance a four-year loan signed in September 2008 and for capital expenditure, including potash projects.

ING Groep was the sole coordinator of the club deal and was joined by 12 banks in syndication.

(Bloomberg)

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