NLMK raised sustainability – linked loan
NLMK Group, a global steelmaking company, is pleased to announce that is has amended the terms for its EUR 250 m revolving credit facility. The financing costs of the facility will now be linked to the Company’s sustainability performance that will be assessed by Sustainalytics, a provider of environmental, social and corporate governance research and ratings. The ESG rating change will result in the adjustment of the credit facility’s financing costs. ING acted as the Sustainability Coordinator of the facility, while UniCredit as its Agent.
Grigory Fedorishin, NLMK Group CEO and President, said: “This type of transaction reaffirms our commitment to the sustainable development strategy. The Company’s performance in this area has been highly recognized by the independent ESG rating providers and demonstrates significant progress.”
Maarten Koning, Global Head Structured Commodity Finance at ING, said: “Sustainability is one of our core values, and enabling our clients to further drive their sustainability agenda is a key priority. ING is proud to be part of NLMK’s journey and we are keen to keep on supporting them.”
Antonio Keglevich, Global Head of Sustainable Finance Advisory at UniCredit, commented: “By linking the sustainability performance of the company to the terms of a credit facility, NLMK is setting market standards for steelmakers not only in Russia, but also globally. At UniCredit we are honoured to have been selected to participate in this important transaction.“
About NLMK Group
NLMK Group is the largest steelmaker in Russia and one of the most efficient in the world.
NLMK Group’s steel products are used in various industries, from construction and machine building to the manufacturing of power-generation equipment and offshore wind turbines.
NLMK operates production facilities in Russia, Europe, and the United States. The Company’s steel production capacity exceeds 17 million tonnes per year.
NLMK has a highly competitive cash cost among global manufacturers and one of the highest profitability levels in the industry. In 12M 2018, the Company generated $12 billion in revenue and $3.6 billion in EBITDA. Net Debt/EBITDA stood at 0.25x. The Company has investment grade credit ratings from S&P, Moody’s, Fitch and Expert RA.
NLMK’s ordinary shares with a 19% free-float are traded on the Moscow Stock Exchange (ticker "NLMK") and its global depositary shares are traded on the London Stock Exchange (ticker "NLMK:LI"). The share capital of the Company is divided into 5,993,227,240 shares with a par value of RUB1. For more details on NLMK shareholder capital please follow the link.
For more information on NLMK Group, please visit our website.
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