MMC Norilsk Nickel : MMC NORILSK NICKEL SUCCESSFULLY CLOSED USD2.1 BILLION 5
YEAR SYNDICATED LOAN
Moscow, June 13, 2013 - MMC Norilsk Nickel (hereinafter, MMC Norilsk Nickel or
the Company), the largest global nickel and palladium producer, announces
today the signing of a 5 year unsecured syndicated loan with a principal
amount of US$ 2.1 billion. The facility consists of a US$ 1.575 billion
amortizing term loan and a US$ 525 million revolving facility. The term loan
bears interest at a rate of 1 month LIBOR plus 1.75% p.a. while the revolver
is priced at a rate of 1 month LIBOR plus 1.35% p.a plus utilisation fee
capped at 0.4%.
The financing will be provided by a 16-strong lender group, comprising Bank of
America, N.A., Barclays Bank PLC, BNP Paribas, Commerzbank Aktiengesellschaft,
Crédit Agricole Corporate and Investment Bank, Deutsche Bank, HSBC Bank plc,
ING Bank N.V., Morgan Stanley, Mizuho Corporate Bank, Ltd., OJSC Nordea Bank,
Joint Stock Commercial Bank "ROSBANK" (Open joint-stock company), Sumitomo
Mitsui Finance Dublin Limited, Société Générale Corporate & Investment Banking
and The Bank of Tokyo-Mitsubishi UFJ, Ltd. and ZAO UniCredit Bank. Société
Générale Corporate & Investment Banking is acting as Documentation Agent.
UniCredit Bank AG, London Branch is acting as Facility Agent. The Bank of
Tokyo-Mitsubishi UFJ, Ltd. and ING Bank N.V. are acting as Information Agents.
Barclays Bank PLC is acting as Structured Rate Agent. Barclays Bank PLC,
Société Générale, and UniCredit Bank AG are acting as Market Hedge Providers.
Linklaters CIS acted as Lenders' legal advisors. The borrower was represented
by Debevoise & Plimpton LLP. The Company might consider a general syndication
in the near term.
The proceeds from the loan will be used for general corporate purposes,
serving amongst other for refinancing of short term debt maturities.
Sergey Malyshev, MMC Norilsk Nickel's Chief Financial Officer said: "We are
pleased with the particularly attractive terms of the transaction which
confirms our positioning as a reliable borrower with strong credit metrics
perceived by the international banking community as a global player in the
metals & mining industry. The facility extends the Company's debt maturity
profile following recent successful placement of a USD750 million eurobond.
The facility further strengthens the Company's financing strategy aimed at
increasing diversification of the investor base, while forming the basis for
continuing close cooperation with its relationship banks".
For further information, please, contact:
Media Relations: Investor Relations:
Phone: +7 (495) 797 82 94 Phone: +7 (495) 786 83 20
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ABOUT MMC NORILSK NICKEL:
MMC Norilsk Nickel, a company incorporated under the laws of the Russian
Federation, is the largest diversified mining and metals company in Russia,
the world's largest producer of nickel and palladium and one of the world's
largest producers of platinum, rhodium, copper and cobalt. In addition to
this, MMC Norilsk Nickel produces a large number of other by-products,
including gold, silver, tellurium, selenium, iridium and ruthenium.
The key production units of the Company's group in Russia are at the Polar and
Kola Peninsulas. MMC Norilsk Nickel international assets include operations in
Finland, Australia, Botswana and South Africa.
MMC Norilsk Nickel's shares are traded on the Moscow Exchange. ADR's on the
Company's shares are traded on the other the counter market in the US and on
the London and Berlin stock exchanges.
This announcement is distributed by Thomson Reuters on behalf of Thomson
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other
applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of
information contained therein.
Source: MMC Norilsk Nickel via Thomson Reuters ONE
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