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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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