Sberbank open $1.5 bln credit lines to Silvinit
MOSCOW |
MOSCOW Oct 26 (Reuters) - Russia's biggest lender Sberbank SBER03.MM opened $1.5 billion worth of credit lines for Silvinit SILV.MM, the country's largest potash producer, the two companies said in a press release on Monday.
Silvinit will use the 5-year facility to refinance a short-term debt it attracted in 2008 to pay for the licence for Polovodskoe Potash-Magnesium minefield.
The first repayment is due in 2010.
(Reporting by Dmitry Sergeyev, editing by Toni Vorobyova)
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