Public Joint Stock Company «Mining and Metallurgical Company «NORILSK NICKEL» (PJSC "MMC "Norilsk Nickel", "Nornickel" or the "Company")
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PJSC MMC NORILSK NICKEL SUCCESSFULLY PLACES A USD 500 MILLION EUROBOND OFFERING MATURING IN SEPTEMBER 2025
Moscow, September 11, 2020 - Nornickel, the world's largest producer of palladium and high-grade nickel and a major producer of platinum and copper, announces today the closing of its USD 500 million Eurobond offering maturing in September 2025 with an annual coupon rate of 2.55%. The proceeds from the issue will be used for general corporate purposes, including capital investments and refinancing.
The transaction becomes the first corporate issuance out of CEE & CIS in the post-summer window, and results in the lowest coupon ever achieved by a corporate or sovereign issuer out of Russia and CIS for any USD-denominated Eurobond public placement. The offering was successfully executed with a solid oversubscription exceeding USD 2 billion at peak and over 90 accounts allocated in the final order book across Europe (30%), Switzerland (26%), Russia (17%), Asia & ME (14%) and US & UK (13%).
Sergey Malyshev, the Company's Senior Vice-president and Chief Financial Officer, commented: "We are delighted with the successful placement of our Eurobond offering not only because this has set a new record but also because this has demonstrated investors' strong confidence in Nornickel in these challenging times".
Citigroup Global Markets Limited, Société Générale and UBS AG London Branch acted as Global Coordinators of the offering ("Global Coordinators"). Bank GPB International S.A., Merrill Lynch International, Sberbank CIB (UK) Limited, UniCredit, VTB Capital plc and the Global Coordinators acted as Joint Lead Managers (the "Managers") of the offering. Debevoise & Plimpton LLP acted as Legal Advisor to the Company and Linklaters LLP acted as the Managers' Legal Advisor.
ABOUT THE COMPANY
MMC Norilsk Nickel is a diversified mining and metallurgical company, the world's largest producer of palladium and high-grade nickel and a major producer of platinum and copper. The company also produces cobalt, rhodium, silver, gold, iridium, ruthenium, selenium, tellurium, sulphur and other products.
The production units of Norilsk Nickel Group are located at the Norilsk Industrial District, on the Kola Peninsula and Zabaykalsky Krai in Russia as well as in Finland and South Africa.
MMC Norilsk Nickel shares are listed on the Moscow and on the Saint-Petersburg Stock Exchanges, ADRs are traded over the counter in the US and on the London, Berlin and Frankfurt Stock Exchanges.
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