The London and Moscow offices of Debevoise & Plimpton LLP have advised NLMK Group in signing and closing a €600 million revolving credit facility with a group of international banks, with an accordion option allowing the borrower to increase the funding limit up to €1 billion.

Crédit Agricole Corporate and Investment Bank, NATIXIS, Intesa Sanpaolo Bank Ireland Plc, SGBTCI, AO Raiffeisenbank, Bank of America Merrill Lynch International DAC, Mizuho Bank, Ltd., Deutsche Bank AG, London Branch, Bank ICBC (JSC), ING Bank N.V. and UniCredit S.p.A. acted as Mandated Lead Arrangers. ING Bank is the Coordinator and Documentation Agent and UniCredit S.p.A. is the Facility Agent.

NLMK is the largest steelmaker in Russia and one of the most efficient in the world. NLMK Group’s steel products are used in various industries, from construction and machine building to the manufacturing of power-generation equipment and offshore wind turbines. NLMK operates production facilities in Russia, Europe and the United States. The company’s steel production capacity exceeds 17 million tonnes per year.

NLMK is a long-time client of Debevoise, with the firm having previously advised on a number of financings and other matters, including on various credit facilities for its international operations.

The Debevoise team advising NLMK was led by Moscow based international counsel Dmitry Karamyslov and included associate Olga Panfilova. Tax advice was provided by London based associates Patrick Fasoro and Heather Atkins.