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VTB Bank increases credit line to Acron Group

14 October 2013

VTB Bank increases credit line to Acron Group.

VTB Bank has made available an additional US$ 100 million credit to fertiliser maker Acron Group, increasing its three-year targeted programme to finance Acron’s mineral fertiliser exports from US$ 200 million to US$ 300 million.

VTB has been growing its partnership with Acron since 1996, providing transaction services including cash settlements and trade financing alongside investment banking services and borrowing facilities.

"Providing financial services to companies in the chemical industry is a strategic priority for VTB Group," said Yuri Soloviev, First Deputy President and Chairman of the Management Board of VTB Bank. «Acron has been a reliable partner for many years. VTB intends to further promote its business by providing financing and modern banking services".

"Despite high volatility on the phosphate and potash markets, the overall market for nitrogen products is still liquid, which means Acron’s products enjoy stable demand," Acron Senior Vice President Oscar Valters said. «The funds raised through this programme will help support the company’s sales on the global mineral fertiliser market in line with its existing long-term contracts."

Acron Group is one of the global leaders on the mineral fertiliser market. The company is Russia’s number one manufacturer of complex NPK fertilisers and one of the largest producers of ammonia and a wide range of nitrogen fertilisers. The company is engaged in the development of potash and phosphate deposits. The group includes three major industrial companies, including Acron. It operates its own transport infrastructure and an international sales network. Acron holds a firm position on the most lucrative markets for mineral fertilisers — China, Russia, Thailand, Brazil and the United States.

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