13 Aug 2018 17:20
Press Release 13 August 2018
PJSC Polyus
Polyus signed a new credit line with Sberbank
PJSC Polyus (LSE, MOEX - PLZL) ("Polyus", the "Company", and together with the Company subsidiaries, the "Group") signed 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
Polyus is the largest gold producer in Russia and one of the top ten gold miners globally with the lowest cost position. Based on its 2017 Ore Reserves and Mineral Resources, Polyus group ranks second both by attributable gold reserves and 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).
Enquiries
Investor contact
Victor Drozdov, Director Investor Relations
+7 (495) 641 33 77
drozdovvi@polyus.com
Media contact
Victoria Vasilyeva, Director Public Relations
+7 (495) 641 33 77
vasilevavs@polyus.com
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.