Norilsk Nickel Repaid USD1,5 bn Syndicated Credit Facility
OREANDA-NEWS. July 05, 2010. OJSC MMC Norilsk Nickel (hereinafter - MMC Norilsk Nickel or the Company) announces full repayment of the unsecured three-year syndicated credit facility totaling USD 1.5 billion, reported the press-centre of Norilsk Nickel.
The repayment was effected on June 29, 2010 without new external borrowings.
The facility was provided in June 2007 in the form of two tranches: a USD 1 billion term loan and a USD 500 million revolving credit line. It was used for the acquisition of LionOre Mining International Ltd. in 2007.
According to the Company’s Chief Financial Officer Dmitry Kostoev, full and timely repayment of this credit facility confirms the Company’s healthy financial position and its reputation of reliable borrower.