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Karnalyte secures $300-million credit facility to fund potash project

12:48 PM MDT | June 17, 2013 | Francinia Protti-Alvarez

Karnalyte (Okotoks, AB) has engaged BNP Paribas and Natixis (New York) to act as lead arrangers to underwrite a project finance credit facility of up to $300 million to help fund a planned potash project, the company has announced. Financing will help fund construction of a greenfield potash project in Saskatchewan.  Proceeds from the financing together with funds provided through Gujarat State Fertilizers & Chemicals (Vadodara, India), the company's strategic equity investor, will provide Karnalyte with approximately 60% of the total capital...

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