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Sberbank open $1.5 bln credit lines to Silvinit

Mon Oct 26, 2009 4:57am EDT

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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.

Russia  |  Financials

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)

Russia
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