Yara extends funding
Jul 05, 2013
Oslo (2013-07-05): Yara International ASA has secured increased flexibility for its operations by signing a new USD 1,750 million dual-tranche Multicurrency Syndicated Revolving Credit Facility. The facility comprises a USD 1,250 million tranche A with a tenor of 5+1+1 years and a USD 500 million tranche B with a tenor of 1+1 years.
The new facility replaces existing revolving credit facilities and will provide financial flexibility for general corporate purposes. Yara has achieved competitive market terms with margins over Libor at 50 basis points in tranche A and 30 basis points in tranche B.
The transaction has been coordinated by Citigroup, Commerzbank, DNB and SEB. Banks joining alongside the Coordinating Bookrunners as Mandated Lead Arrangers and Bookrunners are ANZ, Barclays, BNP Paribas, Crédit Agricole, Danske Bank, Deutsche Bank, J.P. Morgan Chase, Nordea, Royal Bank of Scotland, SMBC, Société Générale and Svenska Handelsbanken. In addition, Fifth Third Bank and Banco Itaú have joined as Lead Arrangers.
"We are very satisfied with the terms of the loan agreement as well as with the positive interest and trust with which Yara has been received by its relationship banks and in the wider financial market," says Yara CFO Torgeir Kvidal.
Thor Giæver, Investor Relations
Telephone (+47) 24 15 72 95
Cellular (+47) 480 75 356
Jens Hofgaard, Corporate Finance & Treasury
Telephone (+47) 24 15 74 99
Cellular (+47) 913 89 793
Esben Tuman, Corporate Communications
Telephone (+47) 24 15 70 26
Cellular (+47) 905 08 400
Yara delivers solutions for sustainable agriculture and the environment. Yara's fertilizers and crop nutrition programs help produce the food required for the growing world population. The industrial products and solutions reduce emissions, improve air quality and support safe and efficient operations. Founded in Norway in 1905, Yara has a worldwide presence with sales to 150 countries. Safety is always the company's top priority.
This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)