By Jaime Llinares Taboada

Polymetal International PLC said Monday that it has agreed on $400 million of new sustainability-linked debt, with interest rates linked to greenhouse gas emission intensity reduction targets.

The Russian mining company said Raiffeisen Bank International AG will provide it with a four-year $200 million term loan, with an option to increase its size to $400 million, and UniCredit SpA will grant a five-year $200 million revolving credit facility.

The financing incorporates an adjustment mechanism that links the pricing for the loans to Polymetal's progress on its emissions reduction targets.

Polymetal has set targets to reduce its greenhouse gas emission intensity by 15% by 2025 and 30% by 2030.

Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT

(END) Dow Jones Newswires

May 24, 2021 02:26 ET (06:26 GMT)

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