PJSC “MMC “Norilsk Nickel” has signed of a 5-year $500 million committed revolving back-stop credit facility (RCF) with a syndicate of international banks.
Commerzbank AG, HSBC Bank plc, Mizuho Bank, Ltd., Sumitomo Mitsui Banking Corporation and UniCredit Bank are acting as Mandated Lead Arrangers and Bookrunners. UniCredit Bank AG (London Branch) was appointed as Facility Agent.
This new RCF is another step towards diversification of available committed credit lines among Russian, Western and Asian lenders.
Sergey Malyshev, the company’s Senior Vice-president and Chief Financial Officer, commented: “Widening participation of top-level international banks in the total number of credit lines available for the company enables us to maintain a liquidity cushion of at least $2 billion in the medium term perspective. The transaction supports our financial strategy aimed at balancing our extra cash reserves with more flexible and cost efficient instruments”. (Norilsk Nickel/Ukrainian metal)