MOSCOW, October 16. MMC “Norilsk Nickel” has attracted unsecured loan from Sberbank amounting to $1.2 billion for a period of 10 years. The organizer of the deal were Sberbank CIB, said in a statement Norilsk Nickel.
Given the new lines total unused limit of confirmed long-term backup credit lines of the MMC now is about $1.9 billion, the report says.
“The deal on attraction of credit lines from Sberbank is carried out within the financial strategy of the company and improve the debt profile of “Norilsk Nickel” by lengthening the repayment schedule of borrowings and increase the amount of confirmed lines as an additional source of stable funding in the medium term,” notes “Norilsk Nickel”.
On Thursday Norilsk Nickel announced that MMC has successfully placed 7-year Eurobonds for $ 1 billion with a coupon rate 6,625%. The proceeds from the issue proceeds will be used for General corporate purposes and to Finance the program of capital investments, said the company.
In the first half of 2015 the net debt of Norilsk Nickel increased by 1% to 3,564 billion. The ratio of net debt to EBITDA remained at the level of 0.6. Short term loan until the end of 2015 of approximately $300 million cash on the balance sheet of the company, as well as unused lines of credit of $5.4 billion.
MMC Norilsk Nickel is a diversified mining and metallurgical company, the world’s largest producer of Nickel and palladium, a leading producer of platinum, cobalt, copper and rhodium. The company also produces gold, silver, iridium, osmium, selenium, ruthenium and tellurium.