Press release
Following the Americas sale

K+S terminates KfW loan

Kassel, 18.05.2021 
K+S has terminated the syndicated credit line of €350 million agreed with the KfW state development bank and other banks in August 2020. At that time, the additional loan was agreed to provide additional financial resources if needed in the wake of the corona pandemic.

“As a result of the completed sale of our U.S. salt business, we have significantly reduced our debt and considerably increased our financial leeway again,” says K+S CFO Thorsten Boeckers. “We have therefore now terminated the KfW loan. Fortunately, we have not had to draw on it.”

Immediately after the closing of the sale, K+S repaid financial liabilities in the amount of approximately €1 billion. The net proceeds from the transaction of around €2.6 billion will be entirely used to repay liabilities. 

“Despite the increased financial leeway, it is important for us to continue to maintain cost discipline at a high level throughout the Company and optimize our cost and capital expenditure structure to prevent us from incurring debt again even at low potash prices”, Boeckers continued. The aim is to enable all production sites to generate a positive free cash flow from 2023 at the latest, even in the event of low potash prices and weak demand for de-icing salt due to weather conditions.

About K+S

K+S considers itself a customer-focused, independent supplier of mineral products for the Agriculture, Industry, Consumers, and Communities segments. We enable farmers securing the world's food supply, provide solutions that keep industries running, enrich consumers' daily lives, and ensure safety in winter. From production sites in Europe, North America, as well as through a global distribution network, we serve the ever-increasing demand for mineral products. We strive for sustainability because we are deeply committed to our responsibilities towards people, the environment, communities, and the economy in the regions in which we operate. 

Your contact for questions about the news

Michael Wudonig
Spokesman for corporate topics
Julia Bock
Head of Investor Relations

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