Norilsk Nickel – the credit history
Despite some slowdown of economic development in many countries, a well-known leader in the production of non-ferrous metals from Norilsk under the name of «Norilsk Nickel» plans to modernize very active in the field of debt repayment and expand. Recently, the group entered into a contractual agreement for the next five years with multiple banking institutions (UniCredit Bank and Raiffeisenbank). The credit line for indefinite term is seven hundred fifty million American dollars. Some part of this loan is designed to pay current debts of the company, but the rest will be used for its intended purpose — to raise the level of liquidity and stability of the Nickel giant on the background of constant economic fluctuations in trade of metal products today. Even in the difficult realities of the current economic situation in the context of the entire world, Norilsk Nickel continues to develop and actively work on the implementation of all debt obligations of the mills included in the group. The company’s management adhered to maintain maximum stability and optimization of borrowing. In addition to maintaining the company afloat received from banks cash allow you to work on reducing interest rates of all debt portfolio leader of nonferrous metallurgy. By the way the decrease in the net profit of Norilsk Nickel at the end of last year did not prevent the co-founders to receive considerable dividends. In total, the shareholders of the company received more than two and a half billion banknotes as dividend payments. It should be noted that the profit growth of the Nickel giant, had a negative impact on another well-known manufacturer in the field of ferrous metallurgy named RUSAL. With the growth of profits of Norilsk provider popular colored raw material, RUSAL increased financial losses and a negative balance sheet of their enterprises. The increase in net loss of aluminum group last year amounted to more than a hundred million American dollars. The mutual dependence of companies Nickel and aluminum compartment due to the fact that RUSAL owns almost thirty percent stake in the Nickel giant. By the way according to some sources by the middle of this year, the situation in the non-ferrous market here a few stabiliziruemost and even the tendency of growth.