REG-Polymetal International plc Polymetal: Sustainability­‑linked loan with Societe Generale

Polymetal International PKAnnouncement

12/09/2019 07:05

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Polymetal International plc (POLY)
Polymetal: Sustainability‑linked loan with Societe Generale

12-Sep-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 time IMMEDIATE                       LSE, MOEX, AIX: POLY / ADR: AUCOY
Date         12 September 2019

Polymetal International plc

Sustainability‑linked loan with Societe Generale

Polymetal is pleased to announce that it has agreed a  bilateral sustainability-linked credit facility of up to US$ 75 million  with
Societe Generale. The facility incorporates an adjustment mechanism which links  the pricing of the loan to five of Polymetal's  key
environmental and social indicators.

Share of sustainability-linked financing has increased to US$ 155 million in the Group's portfolio or 9% of its net debt. 

By entering the agreement with Societe Generale, Polymetal has committed to meeting specific targets in the following areas:

  • Implementing a comprehensive climate management system.
  • Ensuring tailings storage safety.
  • Reducing fresh water use.
  • Maintaining occupational health and safety.
  • Supporting and engaging local communities.

The above‑listed KPIs  will be  monitored annually.  Depending on  the company's  performance during  each yearly  period, the  loan
interest rate may decrease, stay unchanged or increase.

This is the second loan in  the Company's portfolio which incorporates sustainability  metrics into the pricing mechanism. In  April
2018, Polymetal  committed  to  making  further  improvements  to  its  ESG  performance  by  partnering  with  another  bank  on  a
sustainability-linked loan for a total amount of US$ 80 million and linking the margin for the loan to the ESG score estimated by an
independent agency Sustainalytics. In September 2018 Polymetal was ranked 1st among its 47 peers worldwide for its environmental and
social policies and practices by Sustainalytics as a result of 8% improvement in score to 85/100.

Maxim Nazimok, Chief Financial Officer of Polymetal, commented: "With this loan we are increasing the share of sustainability‑linked
financing in our credit  portfolio and optimizing the  cost of our debt.  The ambitious sustainability targets  linked to this  loan
encourage us to continue making tangible and verifiable progress  in reducing our environmental footprint and improving our  conduct
as a responsible corporate citizen".

Stephanie Clement de Givry, Global  Head of Metals &  Mining Finance of Societe  Generale, stated: "We are  proud to sign our  first
sustainability‑linked loan  within the  metals and  mining sector  worldwide  and delighted  to have  closed this  transaction  with
Polymetal International plc. Société Générale is fully committed to  develop innovative and impactful finance and advisory  offering
which allow our clients to advance their long-term ESG strategy".

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.

Polymetal supports the  UN Global Compact,  EITI, CDP, Cyanide  Code and  Global Reporting Initiative.  The Company is  part of  the
leading sustainability indices, including among others Dow Jones Sustainability  Index, MSCI ESG Leaders and FTSE4Good and rated  by
Sustainalytics.

To learn more about Polymetal's sustainability initiatives, please visit  1 https://www.polymetalinternational.com/en/sustainability
or see the Company's latest sustainability report "Integrating Sustainability Throughout".

 

 

Enquiries

    Media                            Investor Relations
                                 Polymetal           2 ir@polymetalinternational.com
FTI Consulting
                                 Eugenia Onuschenko +44 20 7887 1476 (UK)
Leonid Fink     +44 20 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 7886 2500
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

 

 

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   ISIN:          JE00B6T5S470
   Category Code: MSCM
   TIDM:          POLY
   Sequence No.:  19800
   EQS News ID:   872223


    
   End of Announcement EQS News Service

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    3 fncls.ssp?fn=show_t_gif&application_id=872223&application_name=news&site_id=reuters8

References

   Visible links
   1. https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=56f1db95c0a20f4ae259a26e23c3639b&application_id=872223&site_id=reuters8&application_name=news
   2. mailto:ir@polymetalinternational.com


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