May 16. Russian metal major Norilsk Nickel has increased the amount of a 3-year syndicated loan to USD 1.5 bn from USD 1.3 bn after the eighth bank joined the syndicate, Reuters London Pricing Corporation reported citing a source in banking circles. Norilsk Nickel is to take out a credit facility in order to partly refinance the USD 6 bn loan it raised last year to take over Canadian nickel mining concern LionOre Mining International. The new deal calls for USD 750 mn as secured pre-export financing against USD 650 mn secured by a USD 550 mn revolving credit facility (instead of USD 500 mn) and a USD 200 mn unsecured tranche (instead of USD 150 mn), the same source said. Secured tranches carry a LIBOR + 8.5 interest rate and LIBOR +10% for unsecured tranches. Initially, the USD 6 bn credit facility consisted of 5-year pre-export financing for USD 2 bn, a USD 1.5 bn 3-year 2-tranche unsecured and revolving credit and also a USD 2.5 bn 12-month unsecured loan that was not syndicated.