Home / Press Releases / NLMK group has attracted a renewable credit line worth 600 million euros

NLMK group has attracted a renewable credit line worth 600 million euros

Press Releases

NLMK Group, the international metals company, has signed an agreement with a group of international banks on the syndicated revolving credit facility (RCF) for 4 years, worth 600 million euros with the possibility of extension limit funding to 1 billion euros.

the Mechanism of RCF allows to get and repay the cash amount within the limit as required, with interest only at the current sample size. This tool enables the optimum level of liquidity at no additional cost.

"Despite challenging market conditions, the deal generated considerable interest from American, European and Asian banks. The agreement will allow the company to reduce the average cost of a credit portfolio and to comfortably distribute the load of debt maturity", – said Shamil Kurmashov, Vice-President, Finance of the Group.

Coordinating with the organizers of the loan were made by Crédit Agricole Corporate and Investment Bank, NATIXIS, Intesa Sanpaolo Bank Ireland Plc, SGBTCI, AO Raiffeisenbank, Bank of America Merrill Lynch International DAC, Mizuho Bank, Ltd., Deutsche Bank AG, London Branch, ICBC Bank (JSC)
ING Bank N. V. and UniCredit S. p.A. The coordinator of the transaction and the documentation agent were made by ING Bank and UniCredit S. p.A. – the administrative agent. Debevoise & Plimpton LLP acted as legal Advisor to NLMK Group and Hogan Lovells International LLP – legal Advisor of creditors.

about the company

NLMK Group is a vertically integrated steel company and Russia's largest and one of the world's most efficient producers of steel products.

NLMK's metal Products are used in various industries, from construction and engineering to power-generating equipment and offshore wind turbines.

the Production assets of NLMK are located in Russia, Europe and the USA. The production capacity of steel companies over 17 million tonnes a year.

NLMK has high competitiveness in cost among global manufacturers, the company's profitability is one of the highest in the industry. The company's revenue for 2019 amounted to 10.6 billion dollars, EBITDA – $ 2.6 billion. The ratio of Net Debt/EBITDA amounted to 0.7 H. the Company has a credit rating of investment grade from S&P, Moody's, Fitch and Expert RA.

Ordinary shares of JSC "NLMK", free float which is 18.6%, are traded on the Moscow Stock Exchange (Ticker "NLMK"), global Depositary shares on the London stock exchange (Ticker "NLMK:LI"). The share capital of the Company is divided into 5,993,227,240 shares with a par value of 1 Russian ruble. Read more about equity NLMK can be found at the link.

read More about NLMK Group can be found on the website

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