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Norilsk Nickel Completes US $1.5bn Syndication

Norilsk Nickel announces successful closing of the US$1.5bn facility syndication, opened on June 17, 2008. The facility was used to refinance short-term unsecured loan of US$2.5bn provided earlier by BNP Paribas and Socit Gnrale Corporate&Investment Banking (SG CIB) and aimed at the acquisition by Norilsk Nickel of all issued and traded common shares in LionOre Mining International Limited.

The US$1.5bn syndicated facility has 3-year tenure and is structured as follows:

(i) US$750,000,000amortizing secured loan;

(ii) US$550,000,000revolving secured loan;

(iii) US$200,000,000revolving unsecured loan.

The facility was arranged and underwritten by The Bank of Tokyo-Mitsubishi UFJ Ltd, Bayerische Hypo-und Vereinsbank AG (a member of the UniCredit Group), Calyon, ING Wholesale Banking, Socit Gnrale, Sumitomo Mitsui Banking Corporation, The Royal Bank of Scotland Plc and WestLB AG (jointly the Original Mandated Lead Arrangers and Bookrunners).

SG CIB is acting as Coordinating Mandated Lead Arranger, Documentation Agent and Coordinating Structured Rate Provider.

Calyon is acting as Facility and Security Agent and Structured Rate Provider.

Commerzbank AG and Dresdner Bank AG joined the transaction in general syndication as Mandated Lead Arrangers, BayernLB and ZAO Svenska Handelsbanken as Arrangers and BAWAG P.S.K. as Co-arranger.