REG-Polymetal International plc Polymetal: 10-year credit facility with Sberbank

Polymetal International PKAnnouncement

16/10/2019 07:05

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   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.

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   Release IMMEDIATE
   time                                                                  
           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
                             Polymetal        1 ir@polymetalinternational.com
   FTI Consulting
                   +44 20    Evgeny Monakhov +44 20 7887 1475 (UK)
   Leonid Fink     3727 1000 Timofey Kulakov
                                              
   Viktor Pomichal           Kirill
                             Kuznetsov       +7 812 334 3666 (Russia)
       Joint Corporate            
       Brokers
   Morgan Stanley  +44 20
                   7425 8000
   Andrew Foster             RBC Europe
                             Limited
   Richard Brown
                             Marcus Jackson  +44 20 7653 4000
   Panmure Gordon
                             Jamil Miah
   Charles Lesser
                   +44 20
   James Stearns   7886 2500

    

   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

    

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   ISIN:          JE00B6T5S470
   Category Code: MSCM
   TIDM:          POLY
   Sequence No.:  23500
   EQS News ID:   890611


    
   End of Announcement EQS News Service

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References

   Visible links
   1. mailto:ir@polymetalinternational.com


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