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Share Name Share Symbol Market Type Share ISIN Share Description
Polymetal International Plc LSE:POLY London Ordinary Share JE00B6T5S470 ORD NPV
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  5.50 0.35% 1,563.00 1,562.50 1,563.50 1,573.50 1,549.50 1,561.50 945,999 16:29:59
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Industrial Metals 2,095.5 1,027.6 168.2 9.4 7,402

Polymetal: New climate transition loans

24/05/2021 7:00am

UK Regulatory (RNS & others)


Polymetal International plc (POLY) 
Polymetal: New climate transition loans 
24-May-2021 / 09:00 MSK 
Dissemination of a Regulatory Announcement, transmitted by EQS Group. 
The issuer is solely responsible for the content of this announcement. 
=---------------------------------------------------------------------------------------------------------------------- 
Release time  IMMEDIATE                                                        LSE, MOEX, AIX: POLY / ADR: AUCOY 
Date          24 May 2021 Polymetal International plc 

New climate transition loans

Polymetal has agreed USUSD 400 million of new sustainability-linked financing with interest rates linked to the Greenhouse Gas (GHG) emission intensity reduction targets. The financing consists of two loans obtained from AO Raiffeisenbank and UniCredit.

Raiffeisenbank will provide a 4-year USUSD 200 million term loan with an accordion option to increase the total commitments to USUSD400 million, while UniCredit will grant a 5-year USUSD 200 million revolving credit facility.

The two loans significantly contribute to the Company's portfolio of sustainability-linked and green financing which now amounts to USUSD 680 million and comprises approximately 40% of total debt.

The financing incorporates an adjustment mechanism which links the pricing for the loans to the Company's progress on its GHG intensity reduction targets as compared to 2019 baseline year (Scope 1 and 2). Polymetal recently published its first Climate Change Report (link) setting a strategic goal to reduce GHG emission intensity by 30% by 2030, including the intermediate target of 15% by 2025.

To achieve these goals, Polymetal has developed a comprehensive programme that includes a wide range of projects, such as: ? Development of own solar and wind power plants at or near Polymetal operations; ? Investment in grid connections to remote assets and procurement of electricity supplies with the lowest available

carbon footprint; ? Electrification of mobile mining fleet; ? Continuous improvement of energy efficiency.

"Fast-growing share of sustainability-linked financing in Polymetal's overall debt portfolio reflects our strong focus on sustainable development including a gradual reduction of the company's carbon footprint. Combating climate change by increasing energy efficiency and using renewable energy is among our strategic priorities, and the company is actively using ESG-linked financing instruments to facilitate this transition", said Maxim Nazimok, CFO of Polymetal.

"Raiffeisenbank has in-depth expertise in financing sustainable projects. Working with companies dedicated to environmental and social governance principles is our key priority. Polymetal has a significant portfolio of sustainability-linked and green projects. Recently the company published its first Climate Change Report setting a strategic goal to reduce its carbon footprint. We're proud to have the confidence of such a partner as Polymetal, and we will support the company in achieving ambitious plans of improving environmental conditions", stated Dmitry Sredin, Managing Director, Head of Large Corporate and IB Divisions at Raiffeisenbank.

"The expertise and experience, that we bring to the Russian market, integrates the best practice accumulated in sustainable finance by UniCredit internationally. We know that there is no one size fits all solution and are committed to always deliver best-in-class products and solutions to our clients based on in-depth industry knowledge and our strong ESG competence. This deal with our long-standing customer Polymetal is a fantastic example of this effort and of our continued collaboration with our clients in the transition to a low-carbon economy", said Vadim Aparkhov, Member of the Management Board of AO UniCredit Bank.

About Polymetal

Polymetal International plc (together with its subsidiaries - "Polymetal", the "Company", or the "Group") is a top-10 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.

Enquiries

Media                                                   Investor Relations 
                                                        Polymetal          ir@polymetalinternational.com 
FTI Consulting 
                                                        Evgeny Monakhov    +44 20 7887 1475 (UK) 
Leonid Fink                            +44 20 3727 1000 
                                                        Timofey Kulakov 
Viktor Pomichal 
                                                        Kirill Kuznetsov   +7 812 334 3666 (Russia) 
Joint Corporate Brokers 
Morgan Stanley & Co. International plc +44 20 7425 8000 
Andrew Foster 
                                                        RBC Europe Limited 
Richard Brown 
                                                        Marcus Jackson     +44 20 7653 4000 
 
Panmure Gordon                                          Jamil Miah 
 
Daniel Norman 
                                       +44 20 7886 2500 
John Prior 

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. -----------------------------------------------------------------------------------------------------------------------

ISIN:          JE00B6T5S470 
Category Code: MSCM 
TIDM:          POLY 
LEI Code:      213800JKJ5HJWYS4GR61 
Sequence No.:  106776 
EQS News ID:   1199646 
 
End of Announcement  EQS News Service 
=------------------------------------------------------------------------------------
 
Image link: 
https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1199646&application_name=news 
 

(END) Dow Jones Newswires

May 24, 2021 02:00 ET (06:00 GMT)

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