Russian steel producer NLMK has secured a €250mn revolving collaterised credit facility for its Europe Plate division.

The working capital facility was arranged by Deutsche Bank as co-ordinating mandated lead arranger bookrunner and agent, and involved ING, Société Générale and Natixis as additional lenders.

Signed at the end of April, the four-year loan is priced at 200 basis points over Euribor and guaranteed by NLMK. It will be available to group company borrowers in Belgium and Italy.

Hogan Lovells provided legal guidance to Deutsche Bank and Debevoise & Plimpton advised NLMK on the transaction.

“The medium-term committed nature of the facility provides financial flexibility to NLMK Europe Plate,” a Debevoise & Plimpton statement says.

NLMK Group is the largest steelmaker in Russia, with a revenue of US$10.4bn in 2014, and a liquid steel production capacity of over 17 million tonnes a year, of which about 16 million tonnes are produced in Russia.