Share with a friend

Copy link to article


Nordgold Receives Sberbank Loan

Amsterdam, 3 April 2012 - Nord Gold N.V. (“Nordgold” or the “Company”) (LSE: NORD), an established pure-play emerging-markets gold producer, is pleased to announce that it has signed a loan agreement worth 11 billion roubles (c.US$ 374 million) with Sberbank, the largest financial institution in Russia.

Nordgold has successfully secured a three year rouble loan with a grace period of 21 months and quarterly repayments thereafter. Nordgold intends to enter into a cross-currency swap to exchange the loan’s currency into US Dollars to ensure it matches with the Company’s functional currency. This step will also allow the company to reduce pricing of the raised financing.

The proceeds of the facility have been used to repay Nordgold’s outstanding debt to OAO Severstal and its affiliates ("Severstal") of approximately US$ 360 million. This repayment completes all debt arrangements between Nordgold and Severstal and reflects the formal separation of the two companies announced on 14 March 2012. Nordgold retains a strong balance sheet with net debt of less than US$ 200 million and will continue to finance its capital expenditure and dividend programmes through the company’s generated cash flow.

“This is a very positive development for the Company as this agreement marks Nordgold’s first loan facility as an independent company. The agreement with Sberbank was made within a short time period, secured at a relatively low interest rate and includes a comfortable grace period. Nordgold aims to continue as a first-rate borrower with a comfortable debt level and an optimal capital structure. This is a good start for our credit history as a company and shows confidence in our business from Sberbank and from the market.” Nikolai ZelenskiCEO of Nordgold

“We are very proud to arrange the credit facility for Nordgold, one of the largest gold mining companies in Russia and in the world. This facility is aimed to support the Company on its first steps as an independent entity and we highly appreciate that the Company starts its credit history with Sberbank. We are looking forward to strengthen and expand further our strategic partnership comprising the full range of investment and commercial banking services.” Alexey GrenkovHead of key client coverage, Key Corporate Clients Department of Sberbank


Alexey Shchedrin
Head of Financial Communications and IR
Phone: +31 20 406 4480

Sergei Loktionov
Media Relations
Phone: +31 20 406 4480
Mobile: +7 916 800 1409

Peter Ogden
James Devas
Tel.: +44 20 7379 5151

About Nordgold

Nordgold (LSE: NORD) is an established pure-play emerging-markets gold producer, with operations in Burkina Faso, Guinea, Russia and Kazakhstan.Nordgold is a young and dynamic company. Since its establishment in 2007, it has expanded rapidly through acquisitions and organic investment, achieving a rate of growth unmatched in the industry during that period. By 2011 the company’s gold production was 754 Koz.Nordgold has eight active mines, two development projects, five advanced exploration projects and a broad portfolio of early exploration projects and licenses.Nordgold’s target is to produce 1 Moz of gold from existing mines and development projects by 2013. This target is underpinned by company’s gold reserves of 8.2 Moz and resource base of 22,7 Moz of gold and 103 Moz of silver.

Apply for a job

work Format Contact information Professional data

Select the work format

Enter your personal information

Enter your contact information

Please enter professional data

Attach your resume

Drag and drop a file here or

select file Acceptable file format:. pdf,. doc,. docx,. rtf
Acceptable file format:. pdf,. doc,. docx,. rtf

Thank you! Your request was successfully submitted

Our recruiter will process the application
and contact you soon


Thank you! Your message has been sent

Application form

Dear candidate,
We are happy to welcome you as a participant of The Fast Track program selection process. Please fill in the application form below. Please ensure that the content of application form is accurate before submitting. Please carefully save the form and be aware it was submitted by the first time. Unfortunately you couldn't save the form and return for it's editing later. We wish you good luck during the selection process and will be happy to see you in Nordgold.

Photo upload

Contact information

Career disciplines*

Currently the applications flow is open for all 4 career disciplines. Please choose one of them if your professional specialization is relevant

Relocation possibilities*


Work experience*

Add new

Upload attachment*


Upload resume

Cover letter*

Dear candidate,
You are welcome to leave a cover letter. Among the other things, you may answer the following questions: Why do you want to work at Nordgold? And why are you our best choice for this program?

Upload letter

Additional information

Add new

I've gained the information regarding the Fast Track program from (choose one of the answers or propose yours):