REG - Polymetal Int PLC - EBRD provides Polymetal with US$140 million loan <Origin Href="QuoteRef">POLYP.L</Origin>

Polymetal International PKAnnouncement

22/06/2017 07:00

RNS Number : 8431I
Polymetal International PLC
22 June 2017
Release time
IMMEDIATE
Date
22June2017
Polymetal International plc
EBRD provides Polymetal with US$140 million loan for the Kyzyl Project 
Polymetal International plc (LSE, MOEX: POLY; ADR: AUCOY) (together with its subsidiaries - "Polymetal", the "Company", or the "Group")is pleased to announce that it has signed a US$140 million loan agreement with the European Bank of Reconstruction and Development (the "EBRD").
The EBRD loan will finance remaining capital expenditures for the Kyzyl project, which is scheduled to launch in the third quarter of 2018. The facility has an effective tenor of 5 years with a final maturity date in December 2022. 
Kyzyl is the Company's flagship development project and is a high-grade, world-class deposit with total reserves of 7.3 Moz at 7.7 g/t of gold and a mine life of 22 years. Once it is ramped up to full capacity in 2019, the asset is expected to contribute more than 300 Koz of GE production per annum. 
As part of the deal, Polymetal has developed an Environmental and Social Action Plan together with the EBRD, which includes a series of actions that the Company has committed to in order to avoid, reduce, control, or mitigate potential environmental, health and safety, and social impacts during the construction and operation of Kyzyl.
"We are welcoming EBRD's involvement in the Kyzyl project as a significant and long-term lender at attractive commercial terms. This transaction also reinforces Polymetal's commitment to sustainability by adopting EBRD's best practices to environmental and social issues for the development and subsequent operation of Kyzyl," said Vitaly Nesis, Group CEO of Polymetal. 
Enquiries
Media
Investor Relations
FTI Consulting 
Leonid Fink 
Jenny Payne
+44 20 3727 1000
Polymetal
Evgenia Onuschenko
Maryana Nesis
Michael Vasiliev 
ir@polymetalinternational.com
+44 20 7016 9505 (UK)
+7 812 334 3666 (Russia)
Joint Corporate Brokers
Morgan Stanley
Sam McLennan
Richard Brown

Panmure Gordon 
Adam James 
Tom Salvesen
+44 20 7425 8000
+44 20 7886 2500
RBC Europe Limited
Tristan Lovegrove
Marcus Jackson
+44 20 7653 4000
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-LOOKINGSTATEMENTSCONTAINEDHEREIN 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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