PJSC Polyus (LSE, MOEX PLZL) (Polyus, the Company, and together with the Company subsidiaries, the Group) signed an agreement to provide a credit line facility with Sberbank in a total amount of RUB 65 billion due in 2024 (the New Facility) to refinance existing Sberbank credit line facility due in 2019 (the Existing Facility).
In 2014, Polyus utilised the Existing Facility in the amount of RUB 33 billion and subsequently swapped it into US dollars. The Company plans to repay the principal amount and liabilities under cross-currency swaps in the amount of approximately US$ 1 billion in 2019, in line with the current maturity schedule.
The funds under the New Facility will become available for drawdown by maturity of the Existing Facility in April 2019.
Polyus is the largest gold producer in Russia and one of the top ten gold miners globally with the lowest cost position. Based on its 2017 Ore Reserves and Mineral Resources, Polyus group ranks second both by attributable gold reserves and gold resources among the world’s largest gold mining companies.
The Polyus group’s principal operations are located in Krasnoyarsk, Irkutsk and Magadan regions and the Sakha Republic (Yakutia).
Victor Drozdov, Director Investor Relations
+7 (495) 641 33 77
Victoria Vasilyeva, Director Public Relations
+7 (495) 641 33 77
Forward looking statements
This announcement may contain «forward-looking statements» concerning Polyus and/or Polyus group. Generally, the words will, may, should, could, would, can, continue, opportunity, believes, expects, intends, anticipates, estimates or similar expressions identify forward-looking statements. The forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements. Forward-looking statements include statements relating to future capital expenditures and business and management strategies and the expansion and growth of Polyus’ and/or Polyus group’s operations. Many of these risks and uncertainties relate to factors that are beyond Polyus’ and/or Polyus group’s ability to control or estimate precisely and therefore undue reliance should not be placed on such statements which speak only as at the date of this announcement. Polyus and/or any Polyus group company assumes no obligation in respect of, and does not intend to update, these forward-looking statements, except as required pursuant to applicable law.