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Debevoise Advises Norilsk Nickel on USD 750 Million Eurobond

Debevoise Advises Norilsk Nickel on USD 750 Million Eurobond


The Moscow and London offices of Debevoise & Plimpton have advised PJSC MMC Norilsk Nickel on in its USD 750 million Eurobond offering due 2024 with a coupon rate of 3.375% per annum, the lowest coupon ever achieved by Nornickel on a USD transaction.

Debevoise describes Nornickel as "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 also produces gold, silver, iridium, selenium, ruthenium, and tellurium.

Debevoise has previously advised Nornickel on a number of similar finance and capital market matters, including in five previous Eurobond offerings totaling USD 4.25 billion (including USD 1 billion Eurobond offerings in 2015 (as reported by CEE Legal Matters on October 16, 2015) and 2017  (as reported on April 18, 2017).

The Debevoise team advising Nornickel on the 2019 offering was led by London Partner James Scoville and included Moscow Partner Alan Kartashkin, International Counsel Dmitry Karamyslov, and Associates Evgenii Lebedev, Charles Low, and Timur Ochkhaev. Tax advice was provided by Partner Cecile Beurrier, Counsel Huey-Fun Lee. and Associate Patrick Fasoro.

Debevoise did not reply to our inquiry on the matter.

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