Norilsk Nickel to refi with tighter margins

By Mariam Meskin
20 Jan 2020

Norilsk Nickel, the Russian nickel and palladium producer, is refinancing an existing $2.5bn facility. According to bankers, the new deal will have tighter margins than the original deal, which boasted the slimmest margins of any Russian syndicated loan in 2017. Some bankers are calling this the busiest January they have seen for years in the Russian market.

The existing deal is a five year $2.5bn facility signed in December 2017, comprising a $500m tranche and a $2bn tranche. Both tranches were priced at 150bp over Libor. 

"Norilsk Nickel is shopping around at the moment for a refinancing — it will be finalising the terms pretty ...

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