January 25, 2018 / 12:16 PM / 9 months ago

BRIEF-Russia's Nornickel agrees 'reserve' credit lines with VTB, Gazprombank

Jan 25 (Reuters) - Russia’s Norilsk Nickel (Nornickel) :

* Says has agreed two new so-called “reserve” credit lines with VTB and Gazprombank

* Says will use these reserve lines only in case of significant negative events, including long-term effect from Western sanctions against Russia, significant worsening of external conditions for its business, etc

* Says the cost of ownership of these lines is lower than the cost of keeping excessive balance of funds

* Did not disclose the size and conditions of these lines Further company coverage: (Reporting by Moscow Newsroom)

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