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Novolipetsk Steel intends to raise up to $2.5bn via syndicated loan or Eurobond issue

04.09.2008 - Business FM

Novolipetsk Steel intends to raise up to $2.5bn via syndicated loan or Eurobond issue

Novolipetsk Steel (NLMK) intends to raise up to $2.5bn via a syndicated loan or a Eurobond issue for acquiring US pipe producer John Maneely Company.
Novolipetsk Steel intends to purchase John Maneely Company for $3,53bn by the end of the year. The acquisition will be financed by a 5-year $1.6bn syndicated loan and $2bn bridge financing.


Issuer profile: Novolipetsk Steel is one of the world’s largest steel producers. An integrated steel-making company, we produce pig iron, slabs, hot-rolled, cold-rolled, galvanised, pre-painted and grain- and non-grain-oriented steel. In 2006, we sold our products to 56 countries across Europe, the Americas, Asia, Africa and the Middle East, and produced 13% of Russia’s steel.
Issuer's rating:
Standard&Poor's BBB-/Stable Int. Scale (foreign curr.) 07/23/2008
Standard&Poor's BBB-/Stable Int. Scale (loc. curr.) 07/22/2008
Standard&Poor's ruAA+ National Scale (Russia) 07/23/2008
Moody's Ba1/Negative Int. Scale (foreign curr) 10/24/2008
Fitch Ratings BB+/Stable Int. Scale (foreign curr.) 08/14/2008
Fitch Ratings AA(rus)/Stable National Scale (Russia) 08/14/2008
Moody's Interfax Rating Agency A1.ru/Negative National Scale (Russia) 10/24/2008
National Rating Agency AA+ National scale (Russia) 07/06/2007










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