Norilsk Nickel will go into debt

The leadership of the Russian mining and metallurgical

the company (MMC) Norilsk Nickel hopes to attract to the needs of the businesses borrowed

funds in the amount of 900 million U.S. dollars. The money organizations is needed for early

closing old debts to creditors. In turn, the need

premature calculation with financial institutions management MMC dictates forthcoming

repayment package to 16.99% quasicanonical shares of the company (as principal

the owners of «Norilsk Nickel» — to prevent long-term conflict — agreed

at the end of last year). While on this issue made a preliminary

the decision of the leadership and the official consent to the lending shareholders will give 4

February, when managers Nickel Corporation will hold a Board of Directors.

In fact, to repay a debt to

banks «Norilsk Nickel» indirectly will spend a portion of 900 million

loan. It is 565 million dollars, which MMC «is» one of its offshore subsidiaries

enterprises «Corbiere Holdings Limited»

(Charlestown, Federation of St. Kitts and Nevis). Legally this company will be

to close your old credit line. The purposes for which will be spent

the remaining $335 million in «Norilsk Nickel» do not reveal, however sources close

to the leadership of MMC, saying: they will be addressed «corporate objectives».