On August 29, Uralkali held its Extraordinary General Meeting of Shareholders (EGM) where following decision has been made.
The EGM approved of interested-party major transaction (a number of interrelated transactions) – placement of the company’s exchange traded bonds in favor of JSC Uralkali-Technology with a total nominal value of $800 million and with a value of $1000 per bond. The placement may be effected through one or several issuances with maturity date of the last issuance falling no later than on March 23, 2023. The coupon(s) is (are) determined in accordance with the exchange traded bonds program. The purpose of this placement is to replace the company’s shares with the exchange traded bonds in the $800 million REPO deal signed on September 23, 2015 between JSC Uralkali-Technology and JSC VTB Capital with termination of pledge over the company’s GDRs securing the REPO deal.
Uralkali is one of the world’s largest potash producers and exporters. The company’s assets consist of 5 mines and 7 ore-processing mills situated in the towns of Berezniki and Solikamsk. Uralkali employs ca.11,000 people (in the main production unit). Uralkali’s shares are traded on the Moscow Exchange. (Uralkali/Business World Magazine)