OREANDA-NEWS. July 22, 2010. OJSC Nordea Bank has opened two credit facilities to OJSC Ilim Group based on the agreements signed, reported the press-centre of Nordea Bank.

The first non-revolving credit facility of 40 mUSD has a 1.5-year maturity. The second one of 100 mUSD is for 5 years.

The agreements are secured with a guarantee from Ilim Holding SA.

The Company will use the borrowed funds for the purpose of financing its working capital and investments.

Nordea Bank has been cooperating with Ilim Group since February 2008. Throughout the cooperation period, the Bank has successfully participated in a number of projects on financing the Group both as part of a syndicated deal and on a bilateral basis. During this time, the Bank has become one of the key lenders of OJSC Ilim Group.