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As of today MMC Norilsk Nickel has released 18 000 tonnes of nickel out of 60 000 tonnes, pledged under the USD 200 million loan facility, said Mr. Victor Sprogis, Deputy General Director of Norilsk Nickel. He continued, “In the first half of April 2003, the Company is releasing another 18 000 tonnes”.
As it was announced before, on May 23, 2002, Norilsk Nickel entered into US$200,000,000 Secured 3 year Loan Facility (the “Facility”) arranged by Credit Suisse First Boston International, ING Bank N.V. and Standard Bank London Limited, with Natexis Banques Populaires joining the Facility prior to execution. The Facility is secured by a pledge of the Company’s 60 000 tonnes of nickel. Under its terms Norilsk Nickel has the right to payback the loan and to sell the metal before the expiration of the loan agreement. |
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