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RLPC-Norilsk Nickel Seeks Up to $3.5 Billion Loan-Bankers
Sep. 30, 2011 05:36PM PST
Base Metals Investing Reuters reported Norilsk Nickel (LON:MNOD) is in talks with banks for a loan of up to $3.5 billion to buy back shares.
Reuters reported Norilsk Nickel (LON:MNOD) is in talks with banks for a loan of up to $3.5 billion to buy back shares.
The market news is quoted as saying,
Norilsk’s board approved a buyback of 7.7 percent of its shares at $306 on Sept. 13, a total of $4.5 billion. .
Negotiations are going on with six banks that are part of Norilsk’s primary lending group, which largely consists of European banks, a European banker said.