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Polymetal extends Sberbank facility until 2024

05 June 2017 07:24

Polymetal International has agreed to extend its existing $400m credit facility with Sberbank for a period of seven years.

The original $400m loan facility dated back from November 2013 and provided for the bullet repayment in November 2018.

This instrument has now been extended for another seven years until June 2024 on the same key terms with an adjustment of the interest rate in line with the more competitive current market rates.

The effective tenor of the facility is 5 years. Furthermore, Polymetal has entered into a strategic partnership agreement with Sberbank on broader cooperation in banking and related services.

Story provided by StockMarketWire.com

Related Company: POLY

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