Norilsk Nickel to obtain loan for $500 mln from international banks

Nadezhda Ivanova's picture

Norilsk Nickel has concluded an agreement with international banks for a credit line in the amount of $500 million for a period of 5 years, the company reports.

"The increase in the proportion of first-class international banks in the total amount of the confirmed standby lines ensures the preservation of the desired level of available reserve lines in the amount of at least $2 billion for medium term. The transaction is carried out within the company's strategy of balancing reserves of available funds with other, more flexible and cost-effective tools of liquidity maintainance, "- said vice-president of the company Sergei Malyshev.

The organizers of the transaction are the five international banks: Commerzbank AG, HSBC Bank plc, Mizuho Bank, Ltd., Sumitomo Mitsui Banking Corporation and UniCredit Bank.

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