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NLMK Group Recognized for ‘Deal of the Year’
05/26/2010 - NLMK Group’s ECA-backed loan, which raised EUR524 million to finance the purchase of imported equipment, has recently won the Trade Finance and Trade & Forfaiting Review magazines’ “Deal of the Year” award.
NLMK Group’s ECA-backed loan, which raised EUR524 million to finance the purchase of imported equipment, has recently won the Trade Finance and Trade & Forfaiting Review magazines’ “Deal of the Year” award.
NLMK Group closed the facility in December 2009, the proceeds of which were used to finance 19 commercial agreements with seven leading European engineering companies for the purchase of equipment. The facility, which bears a weighted average interest rate of EURIBOR + 1.53, has a maturity of 7 to 10 years.
The proceeds are being used to advance projects that are part of NLMK’s Technical Upgrade Program. The funds are provided by a range of major international banks including Société Générale Corporate & Investment Banking, Bayerische Landesbank, Deutsche Bank, and ING Wholesale Banking under guarantee from the Export Credit Agencies (ECA) - Hermes, OeKB, ODL and ONDD.
