The London, New York and Moscow offices of Hogan Lovells have advised Bank of America Merrill Lynch (BAML) in a $250 million revolving ABL facility to U.S. subsidiaries of NLMK, a global steel producer. BAML was appointed as the sole coordinator, bookrunner, documentation agent, facility agent and security agent. JPMorgan Chase Bank and Citibank acted as mandated lead arrangers.

NLMK Group, an investment grade company (from S&P and Fitch), is an international steelmaking company with operations in Russia, Europe and the USA. The company is the largest steelmaker in Russia. NLMK’s steel products are used in various industries, from construction and engineering to the manufacture of power-generating equipment and offshore wind turbines. In 2016 NLMK was named Steel Industry Leader Award By S&P Global Platts.

The Hogan Lovells team advising BAML was led by London based finance partner, David Leggott, with senior associate, Philip Beswick, assisting. The team in the U.S. was led by New York partner, Russell DaSilva, assisted by associate, Andrew Lee. The team in Moscow was led by senior associate, Oleg Gritsenko.