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NLMK pulls PXF deal
19 January 2012
Russian steel producer NLMK has told lenders it no longer wishes to continue with its pre-export financing.
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Russia's Novolipetsk Steel (NLMK) has written to lenders this week saying that it no longer wishes to continue with a new pre-export financing (PXF).
The Russian borrower blamed “market conditions” for its sudden withdrawal from the capital markets.
NLMK initially approached borrowers before Christmas with a $500 million club...
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