For immediate release
Polyus Gold International Limited (LSE - PGIL, OTC (US) – PLZLY, Polyus Gold or “the Company”), the largest gold producer in Russia, announces today that its subsidiary, CJSC Polyus, has entered into a 5-year committed credit facility agreement with OJSC Sberbank of Russia in the amount of up to RUB 36 billion (approximately USD 1 billion). The facility has a bullet principal repayment at the end of year 5 with prepayment options for the borrower.
The Company intends to use the proceeds for refinancing of its existing loans and for general corporate purposes, including financing of capital investment projects.
Pavel Grachev, Interim Chief Executive Officer of Polyus Gold, commented:
“Achieving this agreement with Russia’s largest financial institution is a major milestone for the Company as the facility will enable Polyus Gold to reduce the average interest rate on our debt and help secure the financing of our key capital investment projects, such as Natalka, thus ensuring funding stability of the Company amid continued extreme macroeconomic volatility.”
Enquiries:
Investor contact
Mikhail Seleznev, Director Investor Relations and Capital Markets
+44 (0) 203 585 35 37 ir@polyusgold.com
Media contact
Sergey Lavrinenko, Director Communications
+44 (0) 203 585 35 37 lavrinenkosn@polyusgold.com
Polyus Gold International Limited
Sberbank Credit Facility
Sberbank Credit Facility
Polyus Gold International Limited (LSE - PGIL, OTC (US) – PLZLY, Polyus Gold or “the Company”), the largest gold producer in Russia, announces today that its subsidiary, CJSC Polyus, has entered into a 5-year committed credit facility agreement with OJSC Sberbank of Russia in the amount of up to RUB 36 billion (approximately USD 1 billion). The facility has a bullet principal repayment at the end of year 5 with prepayment options for the borrower.
The Company intends to use the proceeds for refinancing of its existing loans and for general corporate purposes, including financing of capital investment projects.
Pavel Grachev, Interim Chief Executive Officer of Polyus Gold, commented:
“Achieving this agreement with Russia’s largest financial institution is a major milestone for the Company as the facility will enable Polyus Gold to reduce the average interest rate on our debt and help secure the financing of our key capital investment projects, such as Natalka, thus ensuring funding stability of the Company amid continued extreme macroeconomic volatility.”
Enquiries:
Investor contact
Mikhail Seleznev, Director Investor Relations and Capital Markets
+44 (0) 203 585 35 37 ir@polyusgold.com
Media contact
Sergey Lavrinenko, Director Communications
+44 (0) 203 585 35 37 lavrinenkosn@polyusgold.com