Polymetal: Sustainability-linked loan with Societe Generale

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          [phone]  Polymetal [e-mail] 
Consulting   1000 
 
                          Eugenia   [phone] (UK) 
Leonid Fink               Onuschenk 
                          o 
 
Viktor 
Pomichal                  Timofey 
                          Kulakov 
                                    [phone] (Russia) 
 
                          Kirill 
                          Kuznetsov 
 
Joint Corporate Brokers 
 
Morgan       [phone]  RBC       [phone] 
Stanley      8000         Europe 
                          Limited 
 
Andrew 
Foster                    Marcus 
                          Jackson 
 
Richard 
Brown                     Jamil 
                          Miah 
 
Panmure 
Gordon       [phone] 
             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", 
   "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 
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)