Norilsk Takes First Yuan Loan as It Seeks Copper Project Funding
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GMK Norilsk Nickel PJSC will take its first yuan loan as Russia’s largest miner seeks to diversify its debt and fund a copper project that will supply metal to China.
The company’s board approved the 4.8 billion yuan ($740 million) syndicated loan on Dec. 28, Norilsk said in a Russian regulatory statement on Wednesday. The statement didn’t include the terms of the loan.