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Norilsk Nickel to raise $1.5bn syndicated loan by end of June

09.06.2008 - Prime-Tass

Norilsk Nickel to raise $1.5bn syndicated loan by end of June

Norilsk Nickel to raise a $1.5bn syndicated loan by the end of June, according to Artem Pozdniakov, Head of Organization of Financing. The loan will have a three year tenor. The company intends to start using the proceeds as soon as July. $1bn will be used for refinancing purposes.


Issuer profile: MMC Norilsk Nickel Group produces nickel, copper, cobalt, palladium, platinum and other precious metals (gold, silver), selenium, tellurium, technical sulfur, hard coal and other materials for industrial needs.MMC Norilsk Nickel’s is the world’s largest producer of nickel and palladium and one of the largest producers of platinum. Its market share exceeds 10% of cobalt and 3% of copper production worldwide. Domestically, MMC Norilsk Nickel holds close to a 96% market share of nickel, 55% of copper and 95% of cobalt production.
Outstanding issues:
  1 issue(s) outstanding worth USD 500 000 000
Issuer's rating:
Standard&Poor's BBB-/Stable Int. Scale (foreign curr.) 08/20/2008
Standard&Poor's BBB-/Stable Int. Scale (loc. curr.) 08/20/2008
Standard&Poor's ruAA+ National Scale (Russia) 08/20/2008
Moody's Baa2/Stable Int. Scale (foreign curr) 06/25/2007
Fitch Ratings BBB-/Stable Int. Scale (foreign curr.) 08/23/2007
Moody's Interfax Rating Agency Aaa.ru National Scale (Russia) 06/25/2007
National Rating Agency AA National scale (Russia) 07/06/2007










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