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Norilsk Nickel takes out syndicated loan

      RBC, 21.07.2008, Moscow 17:45:17.Norilsk Nickel raised a $1.5bn syndicated loan that was organized on June 17, the Russian nickel producer's press office reported today. The loan was used to refinance the company's short-term unsecured loan worth $2.5bn, which was extended to Norilsk Nickel by BNP Paribas and Societe Generale Corporate & Investment Banking (SG CIB) to enable it to acquire all common shares of LionOre Mining International Limited.

      The syndicated loan was taken out for three years in the form of a $750m secured term loan, a $550m secured revolving loan, and a $200m unsecured revolving loan. The organizers and bookrunners for the syndication were Bank of Tokyo-Mitsubishi UFJ LTd., Bayerische Hypo-und Vereinsbank AG, Calyon, and ING Wholesale Banking, among other banks.

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