PJSC MMC Norilsk Nickel’s $2.5 billion syndicated term loan facility

Debevoise & Plimpton LLP has advised PJSC MMC Norilsk Nickel (“Nornickel”), a longstanding client of the firm, on an up to $2.5 billion syndicated term loan facility with an international syndicate comprising 17 banks and financial institutions.

The financing will be provided by a lender group which includes Crédit Agricole Corporate and Investment Bank, AO UniCredit Bank, The Bank of Tokyo-Mitsubishi UFJ, Ltd., China Construction Bank Corporation, Seoul Branch, Commerzbank Aktiengesellschaft, Filiale Luxemburg, Industrial And Commercial Bank of China Limited, Nordea Bank AB (publ), Sumitomo Mitsui Banking Corporation Europe Limited, ING Bank, a branch of ING-DiBa AG, Mizuho Bank, Ltd., HSBC Bank plc, AO Raiffeisenbank, Citibank NA, Jersey Branch, JPMorgan Chase Bank, N.A., London Branch, Všeobecná úverová banka, a.s. and CIB Bank Ltd. Unicredit Bank AG, London Branch is acting as Agent.

Nornickel is a diversified mining and metallurgical company, the world’s largest producer of refined nickel and palladium, and a leading producer of platinum, cobalt, copper and rhodium. The company, led by Vladimir Potanin, Marianna A Zakharova and Sergey N Dyachenko, also produces gold, silver, iridium, selenium, ruthenium and tellurium.

Debevoise has previously advised Nornickel on a number of other notable financings and capital markets transactions.

The Debevoise team advising on the new credit facility was led by international counsel Nik Kutnaks (Picture) in Moscow and included Moscow partner Alan Kartashkin and London partner Alan Davies, as well as Moscow associate Daria Serebrova. Tax advice was provided by London partner Richard Ward and associates Patrick Fasoro, Ceinwen Rees and Sarah Ling.

 

Involved fees earner: Nik Kutnaks – Debevoise & Plimpton; Alan Kartashkin – Debevoise & Plimpton; Alan Davies – Debevoise & Plimpton; Daria Serebrova – Debevoise & Plimpton; Richard Ward – Debevoise & Plimpton; Patrick Fasoro – Debevoise & Plimpton; Ceinwen Rees – Debevoise & Plimpton; Sarah Ling – Debevoise & Plimpton;

Law Firms: Debevoise & Plimpton;

Clients: Norilsk Nickel;