Russian metals producer Norilsk Nickel has closed its US$1.5bn five-year pre-export finance facility oversubscribed.

The deal was launched in late October, with Citi and Société Générale acting as the mandated lead arrangers and bookrunners on the deal. SG was the facility agent and documentation agent.

HSBC and UniCredit acted as co-ordinating mandated lead arrangers, underwriters and bookrunners.

Barclays Capital, The Bank of Tokyo-Mitsubishi, DZ Bank, JP Morgan, Nordea, Rosbank and WestLB joined the facility during the syndication phase as mandated lead arrangers and bookrunners. Bank of Taiwan managed the transaction.

Rosbank and Citibank have also been appointed as passport banks.

This PXF marks Norilsk’s first syndicated loan since its three-year US$1.5bn facility closed in 2008.