Miner MMC Norilsk Nickel said Tuesday it had signed a EUR278.8 million facility to refinance its shipbuilding program for the construction of four arctic icebreaking container vessels.
The facility, covered by Euler Hermes Kreditversicherung AG, has a 10-year tenor and will be drawn in U.S. dollars.
The facility was arranged by Bayerische Landesbank AG, Calyon Deutschland AG, DZ Bank AG Deutsche Zentral-Genossenschaftsbank, and ING Bank NV (ING).
DZ Bank AG Deutsche Zentral-Genossenschaftsbank is acting as Facility Agent.
ING Bank, Frankfurt Branch is acting as Documentation Agent, and as Export Credit Agency Agent.
"The company will continue considering borrowings under ECA cover to finance its capital investment program," said Oleg Lobanov, Norilsk's chief financial officer. "This will help us to diversify our credit portfolio and optimize the debt repayment profile.
The facility, covered by Euler Hermes Kreditversicherung AG, has a 10-year tenor and will be drawn in U.S. dollars.
The facility was arranged by Bayerische Landesbank AG, Calyon Deutschland AG, DZ Bank AG Deutsche Zentral-Genossenschaftsbank, and ING Bank NV (ING).
DZ Bank AG Deutsche Zentral-Genossenschaftsbank is acting as Facility Agent.
ING Bank, Frankfurt Branch is acting as Documentation Agent, and as Export Credit Agency Agent.
"The company will continue considering borrowings under ECA cover to finance its capital investment program," said Oleg Lobanov, Norilsk's chief financial officer. "This will help us to diversify our credit portfolio and optimize the debt repayment profile.