ICBC contributes to USD 2.5 billion syndicated loan for Norilsk Nickel to refinance debt and support capital expenditures

Project narrative

On December 18, 2017, a syndicate of international banks signed a 5-year, USD 2.5 billion syndicated loan agreement with PJSC MMC Norilsk Nickel, a Russian mining and metallurgical company. The facility was intended to refinance the company's existing debt, support capital expenditures, and fund general corporate purposes. Crédit Agricole Corporate and Investment Bank, AO UniCredit Bank, The Bank of Tokyo-Mitsubishi UFJ, Ltd., China Construction Bank Corporation, Seoul Branch, Commerzbank Aktiengesellschaft, Industrial And Commercial Bank of China Limited, Sumitomo Mitsui Banking Corporation Europe Limited, ING Bank, Mizuho Bank, Ltd. and other bank are acting as Mandated Lead Arrangers and Bookrunners, joined by HSBC Bank plc, AO Raiffeisenbank, Citibank NA, Jersey Branch, J.P. Morgan Securities Plc, Všeobecná úverová banka, a.s. and CIB Bank Ltd. as Mandated Lead Arrangers. ING Bank acting as Coordinator and Documentation Agent, UniCredit Bank AG, London Branch acting as Facility Agent. Debevoise & Plimpton LLP acting as Legal Advisor to the Company and Clifford Chance CIS Limited acting as Lenders’ Legal Advisor. This loan was a corporate finance transaction and not tied to a specific infrastructure project. The facility matures in December 2022.