Norilsk Nickel receives $75m credit

Open Joint Stock Company Mining and Metallurgical Company Norilsk Nickel and a number of foreign banks have signed an agreement in Moscow today, according to which the Russian company is to receive a $75m credit for a one year period with possible prolongation for another year.

These funds are to be allocated for the financing of production and exports of non-ferrous metals, the press service of Norilsk Nickel reported. The credit's interest rate is LIBOR+3.5 percent.

Among participants of the deal are Deutsche Bank AG, as the sole authorized organizer, the Paris based Societe General SA bank, as the senior organizer, and Deutsche Bank Moscow, as the passport bank that services contracts on non-ferrous metal exports.

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