Loan market shows its mettle for NMLK

26 May 2011

Russian commodities credit Novolipetsk Steel (NMLK) raised $1bn in commitments for a new four year loan but has not yet disclosed the final size of the borrowing.

"It raised a huge amount in commitments," said a banker close to the deal. "Every bank wants NLMK on its books."

It is a base borrowing facility secured against the value of the company’s steel product. It is covered by a credit guarantee agency. Deutsche Bank is arranging the ...

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