Yara improves financing conditions
Jun 27, 2005
The new facility will replace the previous USD 750 million 5 year syndicated loan and will provide for general corporate purposes in the future. Yara has obtained improved conditions in the new loan agreement as the margin is reduced from 32.5 basis points to 20 basis points with today's leverage. The maturity is prolonged, and the company has achieved increased flexibility for its operations, reflecting the company's achievements during its first year of operation as an independent company.
Barclays Capital, BNP Paribas, Citigroup, DnBNOR Bank ASA and Danske Bank A/S were mandated lead arrangers for this financing. The facility was successfully syndicated among the mandated lead arrangers and a group of 13 banks with Barclays Capital, BNP Paribas, Citigroup and Danske Bank A/S acting as bookrunners and with DnBNOR Bank ASA as facility agent.
"We are very satisfied with the terms of the loan agreement as well as with the positive interest and trust Yara has achieved in the financial market," says Yara CFO Hallgeir Storvik.
Egil Hogna, Investor Relations
Telephone (+47) 24 15 71 66
Cellular (+47) 90 187 865
Arne Cartridge, Media Relations
Telephone (+47) 24 15 73 01
Cellular (+47) 47 900 900
Yara International ASA is the world's leading supplier of mineral fertilizers with particular strength in nitrogen-based fertilizers. Yara has a local presence in 50 countries worldwide. Yara sells more than 20 million tonnes of mineral fertilizers in more than 120 countries. Yara offers fertilizers meeting the nutrient needs of local crops supported by agronomic advice to make farming more profitable and agriculture more sustainable. Yara has a strong position in industrial markets in Europe as a supplier of nitrogen-based chemicals and is the leading supplier of liquid CO2.www.yara.com