11.11.2015, 23:22
Polymetal Has Entered Into Pre-Export Finance Facility Agreement
OREANDA-NEWS. Polymetal International plc is pleased to announce that it has entered into a four-year pre-export finance facility agreement for US$ 245 million with accordion feature of up to USD 105 million
USD 245 million have been committed by Natixis, PJSC ROSBANK, Societe Generale and UniCredit Bank Austria AG which acted as Mandated Lead Arrangers and Bookrunners while Bank ICBC (JSC) acted as Lead Arranger. Unicredit coordinated the facility.
The Facility includes an accordion feature which allows the Company to request an increase of the facility in an amount of up to USD 105 million. If exercised this would bring the total amount available under the PXF to up to USD 350 million.
Polymetal plans to use the proceeds to refinance maturing debt and for general corporate purposes. The Facility will have an amortization repayment schedule and a final maturity date of November 6, 2019.
"The USD 245 million in credit facilities, coupled with its flexible accordion feature of an additional USD 105 million, adds to our already strong liquidity position and reflects Polymetal's financial strength and our confidence in the Company's growth opportunities", said Vitaly Nesis, Group CEO.
USD 245 million have been committed by Natixis, PJSC ROSBANK, Societe Generale and UniCredit Bank Austria AG which acted as Mandated Lead Arrangers and Bookrunners while Bank ICBC (JSC) acted as Lead Arranger. Unicredit coordinated the facility.
The Facility includes an accordion feature which allows the Company to request an increase of the facility in an amount of up to USD 105 million. If exercised this would bring the total amount available under the PXF to up to USD 350 million.
Polymetal plans to use the proceeds to refinance maturing debt and for general corporate purposes. The Facility will have an amortization repayment schedule and a final maturity date of November 6, 2019.
"The USD 245 million in credit facilities, coupled with its flexible accordion feature of an additional USD 105 million, adds to our already strong liquidity position and reflects Polymetal's financial strength and our confidence in the Company's growth opportunities", said Vitaly Nesis, Group CEO.
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