The London and Moscow offices of Debevoise & Plimpton LLP have advised longstanding client NLMK Group on a 4-year pre-export finance facility for a total of $400 million.
The company plans to use the proceeds to refinance its short-term debt, as well as for general corporate purposes.
Societe Generale was appointed Coordinator, Mandated Lead Arranger and Bookrunner for the facility. ING Bank N.V., Nordea Bank AB, PJSC ROSBANK, UniCredit Bank Austria AG, acted as Mandated Lead Arrangers and Bookrunners. Deutsche Bank AG, Natixis, and Bank of America Merrill Lynch acted as Lead Arrangers; China Construction Bank and Bank ICBC acted as Arrangers. Deutsche Bank AG was appointed as Facility Agent and ING Bank N.V. as Security Agent.
Debevoise has previously advised the NLMK Group on a number finance matters, including on various collateralized credit facilities for its international operations.
NLMK Group is the largest steelmaker in Russia and one of the most efficient in the world. NLMK’s metal products are used in various industries, from construction and engineering to the manufacture of power-generating equipment and offshore wind turbines.
The Debevoise team advising NLMK Group was led by London based partner Alan J. Davies, and included associates Dmitry A. Karamyslov and Elena V. Bader. Tax advice was provided by London based partner Richard Ward, assisted by associate Patrick Fasoro.
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.