Polymetal International plc (POLY)
Polymetal: Sustainability-linked loan with Societe Generale
12-Sep-2019 / 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 12 September 2019
Polymetal International plc
Sustainability-linked loan with Societe Generale
Polymetal is pleased to announce that it has agreed a bilateral
sustainability-linked credit facility of up to US$ 75 million with Societe
Generale. The facility incorporates an adjustment mechanism which links the
pricing of the loan to five of Polymetal's key environmental and social
indicators.
Share of sustainability-linked financing has increased to US$ 155 million in
the Group's portfolio or 9% of its net debt.
By entering the agreement with Societe Generale, Polymetal has committed to
meeting specific targets in the following areas:
· Implementing a comprehensive climate management system.
· Ensuring tailings storage safety.
· Reducing fresh water use.
· Maintaining occupational health and safety.
· Supporting and engaging local communities.
The above-listed KPIs will be monitored annually. Depending on the company's
performance during each yearly period, the loan interest rate may decrease,
stay unchanged or increase.
This is the second loan in the Company's portfolio which incorporates
sustainability metrics into the pricing mechanism. In April 2018, Polymetal
committed to making further improvements to its ESG performance by
partnering with another bank on a sustainability-linked loan for a total
amount of US$ 80 million and linking the margin for the loan to the ESG
score estimated by an independent agency Sustainalytics. In September 2018
Polymetal was ranked 1st among its 47 peers worldwide for its environmental
and social policies and practices by Sustainalytics as a result of 8%
improvement in score to 85/100.
Maxim Nazimok, Chief Financial Officer of Polymetal, commented: "With this
loan we are increasing the share of sustainability-linked financing in our
credit portfolio and optimizing the cost of our debt. The ambitious
sustainability targets linked to this loan encourage us to continue making
tangible and verifiable progress in reducing our environmental footprint and
improving our conduct as a responsible corporate citizen".
Stephanie Clement de Givry, Global Head of Metals & Mining Finance of
Societe Generale, stated: "We are proud to sign our first
sustainability-linked loan within the metals and mining sector worldwide and
delighted to have closed this transaction with Polymetal International plc.
Société Générale is fully committed to develop innovative and impactful
finance and advisory offering which allow our clients to advance their
long-term ESG strategy".
About Polymetal
Polymetal International plc (LSE, MOEX, AIX: POLY, ADR: AUCOY) (together
with its subsidiaries - "Polymetal", the "Company", or the "Group") is a
top-20 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.
Polymetal supports the UN Global Compact, EITI, CDP, Cyanide Code and Global
Reporting Initiative. The Company is part of the leading sustainability
indices, including among others Dow Jones Sustainability Index, MSCI ESG
Leaders and FTSE4Good and rated by Sustainalytics.
To learn more about Polymetal's sustainability initiatives, please visit
https://www.polymetalinternational.com/en/sustainability [1] or see the
Company's latest sustainability report "Integrating Sustainability
Throughout".
Enquiries
Media Investor Relations
FTI +44 20 3727 Polymetal ir@polymetalinternational.com
Consulting 1000
Eugenia +44 20 7887 1476 (UK)
Leonid Fink Onuschenk
o
Viktor
Pomichal Timofey
Kulakov
+7 812 334 3666 (Russia)
Kirill
Kuznetsov
Joint Corporate Brokers
Morgan +44 20 7425 RBC +44 20 7653 4000
Stanley 8000 Europe
Limited
Andrew
Foster Marcus
Jackson
Richard
Brown Jamil
Miah
Panmure
Gordon +44 20 7886
2500
Charles
Lesser
James
Stearns
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",
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EACH CASE THEIR NEGATIVE OR OTHER VARIATIONS OR BY DISCUSSION OF STRATEGIES,
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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
Sequence No.: 19800
EQS News ID: 872223
End of Announcement EQS News Service
1: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=56f1db95c0a20f4ae259a26e23c3639b&application_id=872223&site_id=vwd&application_name=news
(END) Dow Jones Newswires
September 12, 2019 02:00 ET (06:00 GMT)
