Debevoise Advises NLMK Europe Plate Division in €250 Million Revolving Collateralized Credit Facility

30 April 2015

The London and Moscow offices of Debevoise & Plimpton LLP have advised NLMK Europe Plate Division in signing and closing a €250 million revolving collateralized credit facility. The facility was signed with four international banks, led by Deutsche Bank as Coordinator, Bookrunner and Agent.

The facility is guaranteed by NLMK Group. It carries a margin of 2.00%, and has a tenor of four years. The medium term committed nature of the facility provides financial flexibility to NLMK Europe Plate.

NLMK Group is the largest steelmaker in Russia and one of the most efficient in the world. NLMK’s high-quality metal products are used in various industries, from construction and engineering to the manufacture of power-generating equipment and offshore wind turbines.

NLMK's production assets are located in Russia, Europe, and the United States. The company’s liquid steel production capacity is over 17 million tonnes per year, of which about 16 million tonnes are produced in Russia. The company generated $10.4 billion in revenue; $2.4 billion in EBITDA; and a net profit of $845 million in 2014.

The company is a long-time client of Debevoise, with the firm having previously advised NLMK on various matters, including major Eurobond issuances in 2012 and 2013.

The Debevoise team advising NLMK was led by London partner Alan J. Davies and Moscow associate Dmitry A. Karamyslov, and included Moscow associate Elena V. Bader. London partner Richard Ward and associate Patrick Fasoro provided tax advice.

Debevoise & Plimpton LLP is a premier law firm with market-leading practices, a global perspective and strong New York roots. The firm’s commercially savvy lawyers regularly lead strategic transactions and complex disputes for world-class clients.