In 2017, Uralkali plans to refinance about $1.4 billion and to pay off $300 million of its debt, said director of economics and finance Anton Vishanenko at the conference call with investors.
In 2016, Uralkali produced 10.8 million tons of potassium chloride compared to 11.4 million tons in January - December of last year, the company reports. The decline amounted to 5.3% in 2016.
Uralkalii reduced revenue under IAS in January-September 2016 by 29% against January-September 2015 to $1.68 bln.
The decision on new buyback of Uralkaly hasn’t yet been made, the matter will be discussed at the meeting of the Board of Directors.
Belarusian company Slavkaly of Russian businessman Mikhail Gutseriev has received the first funding from the China Development Bank for the construction of a potash mining and processing complex (G
Uralkalii plans to make 2 issues of bonds of PBO-01-V and PBO-02-V series for the total amount of $800 mln, the company reports.
From the beginning of the program to buyback, fertilizer manufacture Uralkali bought 66 317 447 shares and 1 215 191 GDRs, which is 2.47% of its share capital, the company reports.
In the first six months of 2016, the net profit of Uralkaly under IAS doubled and amounted to 65.2 billion rubles against 31.9 billion rubles in the previous year, the company reports.
Onexim of Mikhail Prokhorov has sold 20% of Uralkali. Buyer, contrary to the market expectations, wasn’t Uralchem, which owns 20% of Uralkali, but Belarusian trader Dmitry Lobyak, who is familiar with owner of Uralchem Dmitry Mazepin. The market doesn’t rule out the possibility that the transaction may contribute to the restoration of relations with Minsk, ruptured in 2013.
Onexim has closed a deal on sale of 20% of Uralkali to a structure of the Belarusian businessman Dmitry Lobyak. The transaction amount isn’t disclosed, but a source of the Kommersant, familiar with the situation, notes that it was signed with a substantial premium to the market (the package price on the Moscow stock exchange is about $2 billion). The Mikhail Prokhorov’s purchase of the package in Uralkali was estimated at $4 billion in late 2013, then he bought 28.5% of the company, but sold some shares during buyback, reduced the stake to 20%. 19.9% more of Uralkali belong to Uralchem, the remaining shares are quasi treasury ones.
The traditional procedure for concluding contracts on the potash market could again be broken. In 2015, the Belarusian Potash Company (BBK) already managed to overtake Uralkaly, concluded the first major export contract, now India can replace China as importer, sets price trend on the market. Most likely, BBK will again first sign a contract with Delhi, but the price could collapse from $332 to $210 per ton of potassium and, as experts believe, in the future we shouldn’t expect a significant growth - especially if China abandons long-term contracts with exporters at all.
The Belarusian President Alexander Lukashenko said yesterday that the trader of Belaruskaly BBK signed a supply contract with India and is ready to sign contracts with Brazil. Then BBK corrected the President, said that it "was finalizing" the agreement with Indian importers, it could be concluded before the end of June. Possible price and volumes haven’t been disclosed. Last year, BBK was also the first company on the world market, which concluded a major contract, but not with China.