Press Release

White & Case Advises EuroChem on Significant Russian Project Financing

Global law firm White & Case LLP has advised EuroChem on a project financing of up to US$750 million, from a syndicate of international and Russian banks, in connection with its Usolskiy potash project located within Russia's Verkhnekamskoe deposit, one of the world's largest potash deposits.

The Mandated Lead Arrangers of the facility, which was signed on 29 August 2014, included Crédit Agricole CIB, HSBC Bank PLC, ING Bank N.V., OJSC Rosbank, Sberbank CIB, Société Générale S.A., ZAO UniCredit Bank, with Société Générale acting as both facility and security agent.

"Given the current environment, this is an important deal for the Russian market and we are proud to have worked with our long-time client EuroChem to help them achieve their business goals," said Evgenia Laurson, a partner in White & Case's Energy, Infrastructure, Project and Asset Finance practice in Moscow. "The deal also underlines the strength of White & Case's project finance team, even in uncertain market conditions."

The White & Case team was led by partners Evgenia Laurson and Maria Oleinik and local partner Maxim Kobzev and supported by associates Ekaterina Logvinova, Natalia Kraslyanskaya and Anastasia Seliankina, all based in Moscow. Specific advice relating to compliance matters, potash mining and environmental issues was provided by partners John Higham QC and Rebecca Campbell and counsel Tallat Hussain, respectively, from the Firm's London office.

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