Norilsk Nickel receives Sberbank loan first tranche for Bystrinsky GOK

17 May 2016

Today, PJSC MMC Norilsk Nickel announces that upon completing all preceding loan granting conditions, LLC GRK Bystrinskoye received the first tranche as part of the credit line for the implementation of Bystrinsky GOK (Mining and Processing Plant) construction project in Trans-Baikal region. On May 5, LLC GRK Bystrinskoye and PJSC Sberbank of Russia signed a loan agreement, whereby the bank provided the project financing for a total amount of USD 800,000,000 for a term of eight years. According to Sergey Malyshev, Senior Vice President of MMC Norilsk Nickel, "The Company, as we stated before, has now fully secured the Bystrinsky GOK Project with external credit resources in order to launch the project on time and on budget, which significantly increases the return on capital for investors and shareholders, and does not affect the parent Company’s creditworthiness for creditors and investors for debt instruments". 

Source: Economical Information Agency "PRIME" AIR Prime БИР