ArmInfo. Polymetal International plc (LSE, MOEX: POLY; ADR: AUCOY) (together with its subsidiaries – “Polymetal”, the “Company”, or the “Group”)is pleased to announce thatit 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.
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