Polymetal: 10-year credit facility with Sberbank (890611)
16 Octubre 2019 - 1:00AM
UK Regulatory
Polymetal International plc (POLY)
Polymetal: 10-year credit facility with Sberbank
16-Oct-2019 / 09:00 MSK
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
Release time IMMEDIATE LSE, MOEX, AIX: POLY / ADR: AUCOY
Date 16 October 2019
Polymetal International plc
10-year credit facility with Sberbank
Polymetal is pleased to announce that it has agreed a 10-year fixed rate
loan of US$ 500 million with Sberbank.
The credit facility will replace the existing loans with Sberbank, which
were due to mature between 2021 and 2024, and other short-term debt. It will
be drawn down until the FY 2019 year-end and is repayable in equal
installments between 2026 and 2029.
"This is the first 10-year credit facility in Polymetal's history, which
will significantly extend the average tenor of our loan portfolio at a
reduced cost and smooth out our repayment profile, removing peak repayments
from the years of construction of Nezhda and POX-2. We are very pleased with
the level of support received on this transaction from Sberbank. The 10-year
credit facility further reinforces our strong relationship with Sberbank as
a long-term partner", - said Eugenia Onuschenko, Corporate Finance Director
of Polymetal.
Anatoly Popov, Deputy Chairman of the Executive Board, Sberbank:
"We have a long-standing partnership and we're committed to further
cementing our ties with one of Russia's leading mining companies. I'm sure
that the new credit facility will contribute to strengthening Polymetal's
market position."
Polymetal's Net Debt of US$ 1.7 bn as of 1 October 2019 remained largely
unchanged compared to the end of the second quarter. The Company generated
significant free cash flow in the third quarter which was distributed to
shareholders via dividend (US$ 94 million paid on September 27). The Group
confirms its mid-term target of 1.5x Net Debt/Adjusted EBITDA.
About Polymetal
Polymetal International plc (LSE, MOEX, AIX: POLY, ADR: AUCOY) (together
with its subsidiaries - "Polymetal", the "Company", or the "Group") is a
top-20 global gold producer and top-5 global silver producer with assets in
Russia and Kazakhstan. The Company combines strong growth with a robust
dividend yield.
Enquiries
Media Investor Relations
FTI +44 20 3727 Polymetal ir@polymetalinternational.com
Consulting 1000
Evgeny +44 20 7887 1475 (UK)
Leonid Fink Monakhov
Timofey
Kulakov
Viktor
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Kirill
Kuznetsov +7 812 334 3666 (Russia)
Joint Corporate Brokers
Morgan +44 20 7425 RBC +44 20 7653 4000
Stanley 8000 Europe
Limited
Andrew
Foster Marcus
Jackson
Richard
Brown Jamil
Miah
Panmure
Gordon +44 20 7886
2500
Charles
Lesser
James
Stearns
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ISIN: JE00B6T5S470
Category Code: MSCM
TIDM: POLY
Sequence No.: 23500
EQS News ID: 890611
End of Announcement EQS News Service
(END) Dow Jones Newswires
October 16, 2019 02:00 ET (06:00 GMT)
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