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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 | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 215.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
Polymetal International plc (POLY) Polymetal: The first Green Loan under newly adopted Green Financing Framework 02-Nov-2020 / 10:00 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 2 November 2020 Polymetal International plc The first Green Loan under newly adopted Green Financing Framework Polymetal has agreed the first US$ 125 million Green Loan in the Russian metals and mining industry with Societe Generale to finance investments in transition to a sustainable and low-emissions economy under the Green Financing Framework ("the Framework"). "We want our business model to be sustainable and we are actively investing in energy efficient technologies and responsible waste and water management. With the first green loan, we invite lenders to contribute to our ESG goals and we provide comfort to stakeholders that our green projects and strategy are aligned with the global Sustainable Development Goals", said Eugenia Onuschenko, Corporate Finance Director of Polymetal. "Societe Generale is pleased to accompany Polymetal one more time in breaking new grounds in the integration of its ESG commitments into its financial strategy by structuring the Company's first green loan in line with its recently adopted Green Financing Framework. This is a very innovative transaction in mining which was made possible by embedding the Company's ESG principles into investment decisions. Societe Generale is delighted to support Polymetal's continuous progress towards achieving a low-emissions future and more efficient use of resources", said Stephanie Clement de Givry, Global Head of Mining, Metals and Industries Finance. Societe Generale will provide a 6-year loan with a 3-year grace period under the Green Financing Framework which specifies eligible ESG projects and criteria for their long-term funding. The loan can be extended to 7 years on the first anniversary of signing. The loan proceeds will be allocated to projects among the following categories: clean transportation, renewable energy, energy efficiency and sustainable waste and water management projects, which contribute to Polymetal's sustainability goals and actions against climate change. Polymetal is responding[1] to climate change and transition to circular economy by: ? cutting GHG intensity from its operations (by 5% by 2023 vs 2018); ? improving energy efficiency through innovation, including low-carbon and renewable energy technologies (7% share of renewable energy by 2025); ? switching to dry storage of tailings (15% share by 2024); ? reducing fresh water use for processing of tonne of ore (by 11% by 2023 vs 2018); ? annually recycling at least 16% of waste generated by 2023. Polymetal intends to fully allocate the green loan proceeds towards the eligible green projects within 24 months from the first utilisation. The Framework is in line with the LMA Green Loan Principles. CICERO Shades of Green[2] has provided a Second Party Opinion and has attributed the Framework Medium Green shading (out of possible Brown, Light, Medium and Dark Green) and graded the governance procedures in relation to green financing as Good. This is the third sustainability-linked loan in the Company's credit portfolio with the share of ESG instruments now reaching 18% of net debt or US$ 280 million in total. The Framework and the Second Party Opinion are available on our web site at link [1]. 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 FTI +44 20 3727 Polymetal ir@polymetalinternational.com Consulting 1000 Evgeny +44 20 7887 1475 (UK) Leonid Fink Monakhov Viktor Timofey Pomichal Kulakov +7 812 334 3666 (Russia) Kirill Kuznetsov Joint Corporate Brokers Morgan +44 20 7425 RBC +44 20 7653 4000 Stanley & 8000 Europe Co. Limited Internationa l plc Marcus Jackson Andrew Foster Jamil Miah Richard Brown Panmure Gordon +44 20 7886 2500 Daniel Norman 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. =--------------------------------------------------------------------------- [1] Based on the company's sustainability targets published this year. [2] https://www.cicero.green/ [2]. ISIN: JE00B6T5S470 Category Code: MSCM TIDM: POLY Sequence No.: 86957 EQS News ID: 1144453 End of Announcement EQS News Service 1: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=85d8c53d417958f54f6ce1738a7e2a07&application_id=1144453&site_id=vwd&application_name=news 2: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=116352da9596f936f2949d07da3876ba&application_id=1144453&site_id=vwd&application_name=news
(END) Dow Jones Newswires
November 02, 2020 02:00 ET (07:00 GMT)
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