The Moscow and London offices of Debevoise & Plimpton LLP have advised long standing client OJSC MMC Norilsk Nickel (“Norilsk Nickel”) on the successful closing of a US$1billion 7-year Eurobond offering, with an annual coupon rate of 5.55%.

The offering, which included a tranche offered to qualified investors in the United States pursuant to the Rule 144A exemption, resulted in Norilsk Nickel achieving a longer tenor for the notes than for any debt instrument that it has previously issued.

The issuance is the latest in a series of Eurobonds issued by leading Russian companies on which Debevoise has advised, comprising both debut offerings and follow-on deals. In 2013 to date, Debevoise has advised on Eurobond issuances by Russian metals and mining companies which resulted in aggregate proceeds raised of approximately US$4 billion, and these deals have accounted for more than half of the total number of Eurobond issuances by Russian companies in that sector this year.

The Debevoise team advising on the latest issuance by Norilsk Nickel was led by Moscow based partner Alan Kartashkin and London based partners James C. Scoville and Peter Hockless, with assistance from Moscow associates Dmitry Karamyslov, Robert Manson and Timur G. Ochkhaev.