Polymetal: 10-year credit facility with Sberbank

Fecha : 16/10/2019 @ 01:00
Fuente : UK Regulatory (RNS & others)
Emisora : Polymetal International Plc (POLY)
Cotización : 1183.0  -12.5 (-1.05%) @ 10:35
Polymetal Cotización de acciones Gráfica

Polymetal: 10-year credit facility with Sberbank

 
 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 
Pomichal 
                          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 
 
FORWARD-LOOKING STATEMENTS 
 
       THIS RELEASE MAY INCLUDE STATEMENTS THAT ARE, OR MAY BE DEEMED TO BE, 
"FORWARD-LOOKING STATEMENTS". THESE FORWARD-LOOKING STATEMENTS SPEAK ONLY AS 
        AT THE DATE OF THIS RELEASE. THESE FORWARD-LOOKING STATEMENTS CAN BE 
   IDENTIFIED BY THE USE OF FORWARD-LOOKING TERMINOLOGY, INCLUDING THE WORDS 
         "TARGETS", "BELIEVES", "EXPECTS", "AIMS", "INTENDS", "WILL", "MAY", 
   "ANTICIPATES", "WOULD", "COULD" OR "SHOULD" OR SIMILAR EXPRESSIONS OR, IN 
EACH CASE THEIR NEGATIVE OR OTHER VARIATIONS OR BY DISCUSSION OF STRATEGIES, 
PLANS, OBJECTIVES, GOALS, FUTURE EVENTS OR INTENTIONS. THESE FORWARD-LOOKING 
      STATEMENTS ALL INCLUDE MATTERS THAT ARE NOT HISTORICAL FACTS. BY THEIR 
    NATURE, SUCH FORWARD-LOOKING STATEMENTS INVOLVE KNOWN AND UNKNOWN RISKS, 
 UNCERTAINTIES AND OTHER IMPORTANT FACTORS BEYOND THE COMPANY'S CONTROL THAT 
  COULD CAUSE THE ACTUAL RESULTS, PERFORMANCE OR ACHIEVEMENTS OF THE COMPANY 
 TO BE MATERIALLY DIFFERENT FROM FUTURE RESULTS, PERFORMANCE OR ACHIEVEMENTS 
           EXPRESSED OR IMPLIED BY SUCH FORWARD-LOOKING STATEMENTS. SUCH 
  FORWARD-LOOKING STATEMENTS ARE BASED ON NUMEROUS ASSUMPTIONS REGARDING THE 
     COMPANY'S PRESENT AND FUTURE BUSINESS STRATEGIES AND THE ENVIRONMENT IN 
WHICH THE COMPANY WILL OPERATE IN THE FUTURE. FORWARD-LOOKING STATEMENTS ARE 
     NOT GUARANTEES OF FUTURE PERFORMANCE. THERE ARE MANY FACTORS THAT COULD 
   CAUSE THE COMPANY'S ACTUAL RESULTS, PERFORMANCE OR ACHIEVEMENTS TO DIFFER 
     MATERIALLY FROM THOSE EXPRESSED IN SUCH FORWARD-LOOKING STATEMENTS. THE 
COMPANY EXPRESSLY DISCLAIMS ANY OBLIGATION OR UNDERTAKING TO DISSEMINATE ANY 
  UPDATES OR REVISIONS TO ANY FORWARD-LOOKING STATEMENTS CONTAINED HEREIN TO 
 REFLECT ANY CHANGE IN THE COMPANY'S EXPECTATIONS WITH REGARD THERETO OR ANY 
  CHANGE IN EVENTS, CONDITIONS OR CIRCUMSTANCES ON WHICH ANY SUCH STATEMENTS 
           ARE BASED 
 
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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