NLMK Group’s $ 1.6 bln syndicated pre-export finance facility has been named ‘Deal of the Year’ by Trade Finance magazine

NLMK Group’s syndicated loan, aimed at raising $ 1.6 bln, has won the Trade Finance magazine ‘Deal of the Year’ award.

In July 2008, NLMK Group closed a 5-year USD 1.6 billion syndicated loan facility with an interest of a LIBOR + 1.2% p.a. The proceeds are being used to refinance current debt, to finance NLMK’s capital expenditure in line with its Technical Upgrading Programme, as well as for general corporate purposes.

BNP Paribas and Société Générale were appointed as Co-ordinating Mandated Lead Arrangers for the facility.