NLMK raises euro loan, Russians remain resilient

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By Mariam Meskin
21 Jul 2020

Russian steel producer Novolipetsk Steel (NLMK) has raised a €600m syndicated loan, as experts say that the continued presence of Russians in the market during the crisis is down to the resilience they were forced to acquire after years of sanctions.

The €600m loan, which one banker said had a tenor of four years, includes an accordion option that allows the borrower to increase the size of the loan to €1bn.

Mandated lead arrangers were Bank of America, Crédit Agricole, Deutsche Bank, ING, Industrial and Commercial Bank of China, Mizuho, ...

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