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Debevoise Advises Norilsk Nickel on Amended 2017 Syndicated Facility Agreement

Debevoise Advises Norilsk Nickel on Amended 2017 Syndicated Facility Agreement

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Debevoise & Plimpton has advised Norilsk Nickel on the upsizing and extension of its December 2017 syndicated facility agreement.

According to Debevoise, “the amendments increased commitments from USD 2.5 billion to USD 4.15 billion, reduced interest rate and significantly increased maturity. This transaction signifies a record low interest rate for Russian corporates in the international syndicated loan market as well as the size and tenor of the loan. The syndicate [consists of] 25 American, European, and Asian banks.”

Norilsk Nickel is a diversified mining and metallurgical company, the world's largest producer of refined nickel and palladium, and a producer of platinum, cobalt, copper, and rhodium. The company also produces gold, silver, iridium, selenium, rutheniumm, and tellurium.

Debevoise’s Moscow-based team included Partner Alan Kartashkin and Counsel Dmitry Karamyslov, while its team in London included Partner Alan Davies and Associates Olga Panfilova and Charles Low.

Debevoise advised Norilsk on its USD 750 million Eurobond offering in November 2019 (as previously reported by CEE Legal Matters on November 14, 2019), as well as on a number of similar finance and capital market matters in the past, including USD 1 billion Eurobond offerings in 2015 (as previously reported by CEE Legal Matters on October 16, 2015) and 2017 (as previously reported by CEE Legal Matters on April 18, 2017).

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We advise its clients in many areas of law, including: dispute resolution in Russia and abroad, corporate law, M&A, antitrust issues, project finance and PPP, restructurings and insolvencies, energy and natural resources, property management and privatization, environment, technical regulation and industrial safety, banking and finance, intellectual property, criminal law, real estate and construction, taxation, family and labour disputes, marine and transport law, and international trade and customs.

We combine high academic qualifications, internationally acknowledged moral and ethical values, senior partners' professional experience and practical abilities with the vigour and knowledge of younger attorneys that enables thus providing clients with reliable, first-class service according to both Russian and western standards through a flexible structure.

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