NLMK approaches lenders for PXF

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09 January 2012

Russian steel producer NLMK is set to mandate banks for a new pre-export financing club deal when it returns from its Christmas break.

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Quote

There is a lot more financing activity coming from the trading companies, mining groups, and multinational corporations that have excess liquidity at their disposal. In many cases they are sitting on cash given high commodity prices, and can still attract banks loans – borrowing base facilities and revolvers continue to be renewed. This allows them to get more involved in direct trade financing on a prepayment or transactional basis. Essentially this is supply chain financing and their treasuries have become a lot more sophisticated.

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