Japanese Banks Loan $440M Toward Russian Ammonia Plant

Law360, New York (January 16, 2014, 3:27 PM EST) -- A subsidiary of Russian phosphate-based fertilizer producer PhosAgro has signed a $440.6 million loan agreement with several Japanese banks to go toward the construction of a new ammonia plant with an annual capacity of 760,000 tons, the company said Thursday.

The Japan Bank for International Cooperation will put forth $264.4 million, or 60 percent of the total loan, with a tenure of 13 years. The remaining combined $176.2 million will come from The Bank of Tokyo-Mitsubishi UFJ Ltd., Citibank Japan Ltd. and Mizuho Bank Ltd. and...
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