Russian nickel giant PJSC Norilsk Nickel Co. has closed a US$500 million bond offering, according to a June 8 release.

According to Senior Vice President and CFO Sergey Malyshev, the Eurobond placement allows Norilsk to achieve its key objectives of repricing and extending its debt.

The executive added that the coupon, which matures in April 2022 and has an annual interest rate of 3.849%, has been fixed at the "lowest level ever" for Norilsk's issuances on international debt capital markets

The cash raised will be used for general corporate purposes and capital investments.