BNP Paribas and Soci&eaute;té Générale are coordinating the deal, and a total of seven banks have joined the facility before general syndication. The additional arrangers are Bank of Tokyo-Mitsubishi UFJ, Deutsche Bank, SMBC, Unicredit/HVB, ABN Amro, Fortis and KBC.
The facility carries a tenor of five years and general syndication is due to be launched shortly.
NLMK is the fourth largest Russian steel producer. It is listed on the London Stock Exchange. In the first nine months of the financial year, the company recorded US$5.5bn in sales revenue and it had an EBITDA (earnings before interest, taxes, depreciation and amortisation) margin of 44% in 2006. It has a rating of BB+ (long-term issuer default rating) from Fitch Ratings and is rated Ba1 by Moody's rating agency.
Reader Comments