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Debevoise Advises Nornickel on USD 1 Billion Eurobond Offering

Debevoise Advises Nornickel on USD 1 Billion Eurobond Offering


The Moscow and London offices of Debevoise & Plimpton have advised longstanding client PJSC MMC Norilsk Nickel (“Nornickel”) on its USD 1 billion Eurobond offering due 2023 with a coupon of 4.10% per annum.

The proceeds from the issue will be used for general corporate purposes and capital investments.

Debevoise describes Nornickel as "a diversified mining and metallurgical company, the world’s largest refined nickel and palladium producer, and a leading producer of platinum, cobalt, copper and rhodium." The company also produces gold, silver, iridium, selenium, ruthenium and tellurium.

Debevoise reports that it has previously advised Nornickel on a number of similar finance and capital market matters, including on three previous Eurobond offerings totaling USD 2.75 billion.

The Debevoise team advising Nornickel was led by London Partner James Scoville, and included Moscow Partner Alan Kartashkin, International Counsel Dmitry Karamyslov, and Associates Timur Ochkhaev and Svetlana Panfilova. Tax advice was provided by International Counsel Cecile Beurrier and Associate Patrick Fasoro. 

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