NLMK $250 million asset-based lending revolving facility

Overview:

• The Novolipetsk Iron & Steel Corporation (NLMK), along with its US subsidiaries, has secured a $250 million revolving asset-based lending facility from a group of banks.
• The loan will be used to refinance the largest steelmaker in Russia's existing indebtedness.
• Bank of America Merrill Lynch International served as sole coordinator, bookrunner and mandated lead arranger on the deal, with JPMorgan Chase Bank and Citibank also acting as mandated lead arrangers.
• Bank of America was appointed as facility agent, collateral agent, and issuing bank.

Jon Moore - Journalist