Hogan Lovells advises ING Bank N.V. and international banks on €600 Million revolving credit facility to NLMK

Hogan Lovells recently represented ING Bank N.V. and a group of international banks in a €600 million revolving credit facility agreement with NLMK, a global steel producer headquartered in Lipetsk, Russia. The two-tranche credit facility will be applied for general corporate purposes. An accordion option allows the borrower to increase the funding limit up to €1 billion.

ING Bank N.V. acted as Co-ordinating Mandated Lead Arranger. Crédit Agricole Corporate and Investment Bank, NATIXIS, SGBTCI, AO Raiffeisenbank, Bank of America Merrill Lynch International Designated Activity Company, Mizuho Bank, Ltd., Deutsche Bank AG, London Branch, Bank ICBC (JSC), UniCredit S.p.A. and Intesa Sanpaolo Bank Ireland Plc acted as Mandated Lead Arrangers and UniCredit S.p.A. acted as Facility Agent.

NLMK Group, an investment grade company, is an international steelmaking company with operations in Russia, Europe and the USA. The company is the largest steelmaker in Russia. NLMK’s steel products are used in various industries, from construction and engineering to the manufacture of power-generating equipment and offshore wind turbines.

The Hogan Lovells team was led by London Banking partner David Leggott, supported by counsel Alexander Gasparyan (Moscow, Banking) and paralegal Alexander Kitaev (Moscow, Banking).

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