September 20, 2012, Belaruskali will repay $1 billion syndicated loan ahead of time by a lump sum, the company said. Belaruskali has already notified the agent of the transaction - Sberbank of Russia. $800 million of a loan will be paid at the expense of early repayment of foreign currency bonds of the Finance Ministry of Belarus, acquired by Belaruskali. The rest sum will be redeemed at the expense of the enterprise own funds.
The syndicated loan may be refinanced. Belaruskali is in talks with Russia's Sberbank on this issue, BelTA informs. The company is likely to take another loan after the early repayment of the syndicated loan.
We remind, Deputy Prime Minister Vladimir Semashko said on May 15 that Belaruskali would prematurely repay a syndicated loan of $1 billion, which was taken on November 18, 2011 for a year ($900 million from Sberbank of Russia and $100million - EDB), as conditions deteriorated for the Belarusian side after the opening of the credit line in the second half of the year.