Deutsche Bank to arrange EUR 807mn financing for NizhnekamskNefteKhim
The bank signs an agreement to finance the construction of a modern ethylene production unit at the St. Petersburg International Economic Forum
May 25, 2018 - St. Petersburg, Russia. Deutsche Bank AG is acting as the Sole Mandated Lead Arranger, Sole Bookrunner, Facility Agent, ECA Agent, Documentation Agent and a Lender in a syndicate of banks for the ca. EUR 807mn Hermes-covered financing for NizhnekamskNefteKhim to construct an ethylene production unit under engineering, procurement and licensing contract with Linde AG. The financing tenor of the facility is 14 years and 9 months. The German export credit agency Euler Hermes will issue export finance cover for the project.
The new ethylene plant unit will be commissioned in 2022 and will have an annual capacity of 600k tonnes of ethylene and over 600k tonnes of other chemical products. The project execution will be in full accordance with Equator Principles and will be monitored by an independent environmental consultant.
Ashok Aram, Deutsche Bank Chief Executive Officer for Europe (excluding Germany and UK), Middle East & Africa, commented: “Supporting German and European companies worldwide has been and continues to be our core business. Russia is one of the significant markets for German manufacturers in Europe and our bank is committed to supporting the German-Russian trade ties and modernization of Russian economy.”
NizhnekamskNefteKhim (NKNK) is one of the largest petrochemicals companies in Europe and the leading producer of synthetic rubber and plastics in Russia. NKNK is part of TAIF, diversified privately-owned investment holding in Russia involved in the petrochemicals, oil, utilities, telecoms and real estate businesses.
For further information please contact:
Deutsche Bank AG Media Contact Phone: +7 495 363 2844 E-Mail: db@em-comms.com
About Deutsche Bank
Deutsche Bank provides commercial and investment banking, retail banking, transaction banking and asset and wealth management products and services to corporations, governments, institutional investors, small and medium-sized businesses, and private individuals. Deutsche Bank is Germany’s leading bank, with a strong position in Europe and a significant presence in the Americas and Asia Pacific.
Disclaimer
This release contains forward-looking statements. Forward-looking statements are statements that are not historical facts; they include statements about our beliefs and expectations and the assumptions underlying them. These statements are based on plans, estimates and projections as they are currently available to the management of Deutsche Bank. Forward-looking statements therefore speak only as of the date they are made, and we undertake no obligation to update publicly any of them in light of new information or future events.
By their very nature, forward-looking statements involve risks and uncertainties. A number of important factors could therefore cause actual results to differ materially from those contained in any forward-looking statement. Such factors include the conditions in the financial markets in Germany, in Europe, in the United States and elsewhere from which we derive a substantial portion of our revenues and in which we hold a substantial portion of our assets, the development of asset prices and market volatility, potential defaults of borrowers or trading counterparties, the implementation of our strategic initiatives, the reliability of our risk management policies, procedures and methods, and other risks referenced in our filings with the U.S. Securities and Exchange Commission. Such factors are described in detail in our SEC Form 20-F of 20 March 2017 under the heading “Risk Factors”. Copies of this document are readily available upon request or can be downloaded.
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The bank signs an agreement to finance the construction of a modern ethylene production unit at the St. Petersburg International Economic Forum
May 25, 2018 - St. Petersburg, Russia. Deutsche Bank AG is acting as the Sole Mandated Lead Arranger, Sole Bookrunner, Facility Agent, ECA Agent, Documentation Agent and a Lender in a syndicate of banks for the ca. EUR 807mn Hermes-covered financing for NizhnekamskNefteKhim to construct an ethylene production unit under engineering, procurement and licensing contract with Linde AG. The financing tenor of the facility is 14 years and 9 months. The German export credit agency Euler Hermes will issue export finance cover for the project.
The new ethylene plant unit will be commissioned in 2022 and will have an annual capacity of 600k tonnes of ethylene and over 600k tonnes of other chemical products. The project execution will be in full accordance with Equator Principles and will be monitored by an independent environmental consultant.
Ashok Aram, Deutsche Bank Chief Executive Officer for Europe (excluding Germany and UK), Middle East & Africa, commented: “Supporting German and European companies worldwide has been and continues to be our core business. Russia is one of the significant markets for German manufacturers in Europe and our bank is committed to supporting the German-Russian trade ties and modernization of Russian economy.”
NizhnekamskNefteKhim (NKNK) is one of the largest petrochemicals companies in Europe and the leading producer of synthetic rubber and plastics in Russia. NKNK is part of TAIF, diversified privately-owned investment holding in Russia involved in the petrochemicals, oil, utilities, telecoms and real estate businesses.
For further information please contact:
Deutsche Bank AG
Media Contact
Phone: +7 495 363 2844
E-Mail: db@em-comms.com
About Deutsche Bank
Deutsche Bank provides commercial and investment banking, retail banking, transaction banking and asset and wealth management products and services to corporations, governments, institutional investors, small and medium-sized businesses, and private individuals. Deutsche Bank is Germany’s leading bank, with a strong position in Europe and a significant presence in the Americas and Asia Pacific.
Disclaimer
This release contains forward-looking statements. Forward-looking statements are statements that are not historical facts; they include statements about our beliefs and expectations and the assumptions underlying them. These statements are based on plans, estimates and projections as they are currently available to the management of Deutsche Bank. Forward-looking statements therefore speak only as of the date they are made, and we undertake no obligation to update publicly any of them in light of new information or future events.
By their very nature, forward-looking statements involve risks and uncertainties. A number of important factors could therefore cause actual results to differ materially from those contained in any forward-looking statement. Such factors include the conditions in the financial markets in Germany, in Europe, in the United States and elsewhere from which we derive a substantial portion of our revenues and in which we hold a substantial portion of our assets, the development of asset prices and market volatility, potential defaults of borrowers or trading counterparties, the implementation of our strategic initiatives, the reliability of our risk management policies, procedures and methods, and other risks referenced in our filings with the U.S. Securities and Exchange Commission. Such factors are described in detail in our SEC Form 20-F of 20 March 2017 under the heading “Risk Factors”. Copies of this document are readily available upon request or can be downloaded.