Polymetal International PLC Polymetal extends Sberbank facility until 2024 (1171H)
05 June 2017 - 4:00PM
UK Regulatory
TIDMPOLY
RNS Number : 1171H
Polymetal International PLC
05 June 2017
Release IMMEDIATE
time
Date 5 June 2017
Polymetal International plc
Polymetal extends Sberbank facility until 2024
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 agreed to extend
its existing US$400 million credit facility with Sberbank for a
period of 7 years.
The original US$ 400 million loan facility dates back from
November 2013 and provided for the bullet repayment in November
2018. This instrument has now been extended for another seven years
until June 2024 on the same key terms with an adjustment of the
interest rate in line with the more competitive current market
rates. The effective tenor of the facility is 5 years. Furthermore,
Polymetal has entered into a strategic partnership agreement with
Sberbank on broader cooperation in banking and related
services.
"This is an excellent deal for Polymetal. We are significantly
extending the maturity profile of our debt portfolio while
maintaining low interest costs. This is an important milestone in
strengthening and developing our relationship with Sberbank" said
Vitaly Nesis, Group CEO of Polymetal.
Enquiries
Media Investor Relations
----------------- ------------------ ----------------------------------------------------
FTI Consulting +44 20 3727 1000 Polymetal ir@polymetalinternational.com
Leonid Fink Evgenia Onuschenko +44 20 7016 9505 (UK)
Jenny Payne Maryana Nesis
Michael Vasiliev +7 812 334 3666 (Russia)
----------------- ------------------ -------------------- ------------------------------
Joint Corporate Brokers
------------------------------------- ----------------------------------------------------
Morgan Stanley
Sam McLennan
Richard Brown +44 20 7425 8000
Panmure Gordon RBC Europe Limited
Adam James Tristan Lovegrove
Tom Salvesen +44 20 7886 2500 Marcus Jackson +44 20 7653 4000
----------------- ------------------ -------------------- ------------------------------
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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
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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
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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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