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Norilsk Nickel MMC

December 2, 2004

MMC “Norilsk Nickel” signs US $400M unsecured committed credit line

MMC “Norilsk Nickel” (“Group”) and a group of western banks signed a US$400m unsecured committed credit line ?n November 11, 2004.

The facility was arranged by Barclays Capital (the investment banking division of Barclays Bank PLC) and BNP Paribas (Suisse) S.A. who both also acted as joint Bookrunners.

The facility attracted such strong support at the senior phase of syndication that no distribution was required in the retail market. The size of the transaction was increased from the initial amount of US$300m after attracting commitments in excess of US$400m from a 10-strong group of major international banks.

The final syndicate comprises Barclays Capital (the investment banking division of Barclays Bank PLC), BNP Paribas (Suisse) S.A., Commerzbank Aktiengesellschaft, Natexis Banques Populaires, Société Générale Corporate and Investment Banking, The Bank of Tokyo-Mitsubishi, Ltd and WestLB AG as Mandated Lead Arrangers, as well as Bank Austria Creditanstalt AG, Sumitomo Mitsui Banking Corporation Europe Limited, and Raiffeisen Zentralbank Österreich Aktiengesellschaft as Lead Arrangers.

The facility is a revolving credit line available for 1 year with extension options.  It is designed to improve the Group’s debt portfolio by increasing the amount of committed credit facilities available to it. The facility will be used for Norilsk Nickel’s general working capital requirements. The applicable interest rate is LIBOR plus 1.50%.

MMC Norilsk Nickel is the world’s largest producer of nickel and palladium, and a major producer of platinum, copper, gold and cobalt. MMC Norilsk Nickel is rated “BB” by Standard & Poor’s and “Ba1” by Moody’s Investors Service.

For more information, please contact:
Dmitry Usanov
Head of Investor Relations
MMC Norilsk Nickel
Tel.:  +7 095 755 6733

Nigel Pavey
Barclays Capital
Tel.:  +44 207 773 3048

Enna Pariset
BNP Paribas (Suisse) S.A.
Tel.:  + 41 22 906 2677.

 

 

 

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