CMS has advised PJSC Uralkali on its debut USD 1.25 billion sustainability-linked pre-export finance facility arranged by a consortium of banks, with ING Bank acting as lead sustainability coordinator. Dentons reportedly advised the lenders.
The banking consortium included Commerzbank Credit Agricole Corporate & Investment Bank, ING Bank, Societe Generale, Intesa Sanpaolo, the Russian Regional Development Bank, Natixis, and Sberbank.
According to CMS, “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’s team included Partner Ana Radnev, Counsel Elena Tchoubykina, and Associate Aleksander Zhuravkov.
Editor's note: After this article was published, CEE Legal Matters received confirmation that Dentons advised ING Bank, the lead sustainability coordinator, facility coordinator, and documentation agent. Dentons' team was led by London-based Partner Logan Wright and included Moscow-based Counsels Filipp Petyukov and Dennis Montgomery and Associates Olga Alyabyeva and Mikhail Fedorov.