Polyus Finance PLC New credit line with Sberbank (6715X)
13 Août 2018 - 7:13PM
UK Regulatory
TIDM60GT
RNS Number : 6715X
Polyus Finance PLC
13 August 2018
For immediate release 13 August 2018
Polyus Finance Plc
Polyus signed a new credit line with Sberbank
Polyus Finance plc (the "Issuer") notes the announcement made
earlier today by PJSC Polyus (LSE, MOEX - PLZL) ("Polyus", the
"Company") about signing an agreement to provide a credit line
facility with Sberbank in a total amount of RUB 65 billion due in
2024 (the "New Facility") to refinance existing Sberbank credit
line facility due in 2019 (the "Existing Facility").
In 2014, Polyus utilised the Existing Facility in the amount of
RUB 33 billion and subsequently swapped it into US dollars. The
Company plans to repay the principal amount and liabilities under
cross-currency swaps in the amount of approximately US$ 1 billion
in 2019, in line with the current maturity schedule.
The funds under the New Facility will become available for
drawdown by maturity of the Existing Facility in April 2019.
Polyus
The Polyus group is the largest gold producer in Russia and one
of the top 10 gold miners globally with the lowest cost position.
Based on its 2016 Ore Reserves and Mineral Resources, the Polyus
group ranks second by attributable gold reserves and third by
attributable gold resources among the world's largest gold mining
companies.
The Polyus group's principal operations are located in
Krasnoyarsk, Irkutsk and Magadan
regions and the Sakha Republic (Yakutia).
Forward looking statement
This announcement may contain "forward-looking statements"
concerning Polyus and/or Polyus group. Generally, the words "will",
"may", "should", "could", "would", "can", "continue",
"opportunity", "believes", "expects", "intends", "anticipates",
"estimates" or similar expressions identify forward-looking
statements. The forward-looking statements involve risks and
uncertainties that could cause actual results to differ materially
from those expressed in the forward-looking statements.
Forward-looking statements include statements relating to future
capital expenditures and business and management strategies and the
expansion and growth of Polyus' and/or Polyus group's operations.
Many of these risks and uncertainties relate to factors that are
beyond Polyus' and/or Polyus group's ability to control or estimate
precisely and therefore undue reliance should not be placed on such
statements which speak only as at the date of this announcement.
Polyus and/or any Polyus group company assumes no obligation in
respect of, and does not intend to update, these forward-looking
statements, except as required pursuant to applicable law.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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