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Debevoise Advises Norilsk Nickel on New USD 500 Million Credit Facility

Debevoise Advises Norilsk Nickel on New USD 500 Million Credit Facility


The Moscow and London offices of Debevoise & Plimpton have advised longstanding client Norilsk Nickel on the establishment of an up to USD 500 million committed revolving credit facility with a syndicate of international banks.

Commerzbank AG, HSBC Bank plc, Mizuho Bank, Ltd., Sumitomo Mitsui Banking Corporation and UniCredit Bank Austria AG are acting as mandated lead arrangers and bookrunners. UniCredit Bank AG (London Branch) was appointed as facility agent.

Norilsk Nickel 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 also produces gold, silver, iridium, selenium, ruthenium, and tellurium.

Debevoise has previously advised Norilsk Nickel on a number of similar finance and capital market matters. In October 2015, the firm advised Norilsk Nickel on a USD 1 billion Eurobond offering (as reported on October 16, 2015).

The Debevoise team advising on the new credit facility was led by London Partner Alan Davies, and included Moscow Partner Alan Kartashkin. The team also included Associates Nik Kutnaks, Ekaterina Podbereznyak, and Daria Serebrova. Tax advice was provided by London Partner Richard Ward, assisted by Associates Ellie Mends and Ceinwen Rees.

Debevoise did not reply to our inquiries on the matter about counsel for the banks.

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