Polymetal Agrees on New $400 Million Emissions-Linked Debt
May 24 2021 - 01:26AM
Dow Jones News
By Jaime Llinares Taboada
Polymetal International PLC said Monday that it has agreed on
$400 million of new sustainability-linked debt, with interest rates
linked to greenhouse gas emission intensity reduction targets.
The Russian mining company said Raiffeisen Bank International AG
will provide it with a four-year $200 million term loan, with an
option to increase its size to $400 million, and UniCredit SpA will
grant a five-year $200 million revolving credit facility.
The financing incorporates an adjustment mechanism that links
the pricing for the loans to Polymetal's progress on its emissions
reduction targets.
Polymetal has set targets to reduce its greenhouse gas emission
intensity by 15% by 2025 and 30% by 2030.
Write to Jaime Llinares Taboada at jaime.llinares@wsj.com;
@JaimeLlinaresT
(END) Dow Jones Newswires
May 24, 2021 02:26 ET (06:26 GMT)
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