28th Aug 2018 09:08
LONDON (Alliance News) - Russian miner Polymetal International PLC said on Tuesday it has agreed USD250 million of new financing with Russian lender Alfa-Bank.
The financing is a long-term five-year fixed rate loan, and Polymetal said it will mainly be used to refinance some maturing debt.
Chief Financial Officer Maxim Nazimok said: "This is an excellent transaction which provides for stability of funding to support our development strategy going forward.
"I am very pleased to see even in today's turbulent environment, Polymetal continues to source long-term financing on attractive terms from leading financial institutions, maintaining a stable low cost of debt and a comfortable maturity profile."
Shares were 0.1% higher on Tuesday at a price of 657.80 pence each.
Related Shares:
POLY.L