International law firm Freshfields Bruckhaus Deringer has advised Barclays, BNP Paribas, Citigroup and Sberbank CIB in relation to EuroChem Global Investments Limited’s issue of US$750m 5.125% Loan Participation Notes due 2017. The transaction will fund a loan to OJSC “Mineral and Chemical Company “EuroChem” (“EuroChem”).
The offering is EuroChem’s first issuance targeting the qualified institutional buyer investor base in the US pursuant to Rule 144A under the US Securities Act.
The multi-jurisdictional Freshfields team advising on the deal included London-based partners Duncan Kellaway and Don Guiney and Moscow-based partner Mikhail Loktionov. Freshfields’ London dispute resolution and UK and US tax practices also advised.
Duncan Kellaway said: ’This transaction signals a first return to the capital markets by EuroChem since 2007.’
EuroChem is a leading nitrogen and phosphate fertiliser producer and in 2011 was the largest fertiliser producer in Russia in terms of tonnes of nutrients sold according to market data. EuroChem’s fertiliser products are sold to customers in over 90 countries, the primary markets outside of Russia being, Europe, Asia, Latin America, North America and the rest of the CIS.
