ICL Secures a $650 Million Credit Facility from Consortium of International Banks

TEL-AVIV, Israel, December 4, 2011 /PRNewswire/ --

ICL (TASE:ICL), a multinational fertilizer and specialty chemicals company, today announced that it has signed an agreement with a consortium of seven international banks, setting the terms under which they will provide to ICL with a $650 million credit facility for a period of five years. The seven banks included in the consortium are Sumitomo (SMBC), The Bank of Tokyo-Mitsubishi, Commerzbank, Rabobank, HSBC, BBVA and Citibank. The basic rate for funds drawn up to $215 million will be 1.0% over LIBOR. In case of larger draw-downs, the interest rate will increase by 0.2%-0.4%.

ICL believes that its ability to secure this significant credit line at a highly competitive rate of interest - especially given the uncertainties reigning currently in many of the world's major economies and financial markets - demonstrates the strong reputation which ICL has achieved in international credit markets. The credit line further reflects the strength of ICL's relationship with the participating institutions, and the mutual commitment of ICL and the banks to cooperate over the long term.

This new facility replaces a similar loan in an amount of $725 million, which was taken by ICL in August 2007 for a period of 5 years and which will now be repaid approximately one year in advance of its original maturity.

This new credit line was undertaken as part of the Company's strategy of securing its access to credit, extending the average maturity of its loans and diversifying its financial resources.

About ICL

ICL is one of the world's leading fertilizer and specialty chemicals companies. For a world challenged by population growth and scarce resources, ICL makes products that increase global food and water supplies and improve industrial materials and processes.

ICL produces approximately a third of the world's bromine and is the 6^th largest potash producer in the world. ICL is a leading supplier of fertilizers in Europe and a major player in specialty fertilizer market segments. One of the world's most integrated manufacturers and suppliers of phosphate products, ICL has become the world's leading provider of pure phosphoric acid and a major specialty phosphate player.

ICL is comprised of three core segments: ICL Fertilizers, ICL Industrial Products and ICL Performance Products. Its major production activities are located in Israel, Europe, the US, South America and China, and are supported by major global marketing and logistics networks. ICL benefits from exclusive concessions to extract minerals from Israel's Dead Sea, a vast source of high-quality and low-cost potash, bromine, magnesium chloride and sodium chloride.  ICL also mines phosphate rock from Israel's Negev Desert and potash and salt from its mines in Spain and the UK.

ICL's shares are traded on the Tel Aviv Stock Exchange (TASE: ICL).

Forward Looking Statement

This press release contains forward-looking assessments and judgments regarding macro-economic conditions and the Group's markets, and there is no certainty as to whether, when and/or at what rate these projections will materialize. Management's projections are likely to change in light of market fluctuations, especially in ICL's manufacturing locations and target markets.  In addition, ICL is likely to be affected by changes in the demand and price environment for its products as well as the cost of shipping and energy, whether caused by actions of governments, manufacturers or consumers. ICL can also be affected by changes in the capital markets, including fluctuations in currency exchange rates, credit availability, interest rates, etc.

PRESS CONTACT
Fleisher Communications and Public Relations    
Amiram Fleisher
+972-3-6241241    
[email protected]

SOURCE ICL - Israel Chemicals Ltd

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