Polymetal International plc (POLY) 
Polymetal: The first Green Loan under newly adopted Green Financing 
Framework 
 
02-Nov-2020 / 10:00 MSK 
Dissemination of a Regulatory Announcement, transmitted by EQS Group. 
The issuer is solely responsible for the content of this announcement. 
 
Release time IMMEDIATE LSE, MOEX, AIX: POLY / ADR: AUCOY 
Date         2 November 2020 
 
Polymetal International plc 
 
          The first Green Loan under newly adopted Green Financing Framework 
 
    Polymetal has agreed the first US$ 125 million Green Loan in the Russian 
  metals and mining industry with Societe Generale to finance investments in 
       transition to a sustainable and low-emissions economy under the Green 
           Financing Framework ("the Framework"). 
 
 "We want our business model to be sustainable and we are actively investing 
in energy efficient technologies and responsible waste and water management. 
 With the first green loan, we invite lenders to contribute to our ESG goals 
 and we provide comfort to stakeholders that our green projects and strategy 
    are aligned with the global Sustainable Development Goals", said Eugenia 
           Onuschenko, Corporate Finance Director of Polymetal. 
 
        "Societe Generale is pleased to accompany Polymetal one more time in 
     breaking new grounds in the integration of its ESG commitments into its 
    financial strategy by structuring the Company's first green loan in line 
         with its recently adopted Green Financing Framework. This is a very 
   innovative transaction in mining which was made possible by embedding the 
     Company's ESG principles into investment decisions. Societe Generale is 
    delighted to support Polymetal's continuous progress towards achieving a 
   low-emissions future and more efficient use of resources", said Stephanie 
     Clement de Givry, Global Head of Mining, Metals and Industries Finance. 
 
Societe Generale will provide a 6-year loan with a 3-year grace period under 
     the Green Financing Framework which specifies eligible ESG projects and 
criteria for their long-term funding. The loan can be extended to 7 years on 
           the first anniversary of signing. 
 
         The loan proceeds will be allocated to projects among the following 
   categories: clean transportation, renewable energy, energy efficiency and 
        sustainable waste and water management projects, which contribute to 
        Polymetal's sustainability goals and actions against climate change. 
 
     Polymetal is responding[1] to climate change and transition to circular 
           economy by: 
 
? cutting GHG intensity from its operations (by 5% by 2023 vs 2018); 
 
? improving energy efficiency through innovation, including low-carbon and 
renewable energy technologies (7% share of renewable energy by 2025); 
 
? switching to dry storage of tailings (15% share by 2024); 
 
? reducing fresh water use for processing of tonne of ore (by 11% by 2023 
vs 2018); 
 
? annually recycling at least 16% of waste generated by 2023. 
 
     Polymetal intends to fully allocate the green loan proceeds towards the 
        eligible green projects within 24 months from the first utilisation. 
 
  The Framework is in line with the LMA Green Loan Principles. CICERO Shades 
      of Green[2] has provided a Second Party Opinion and has attributed the 
    Framework Medium Green shading (out of possible Brown, Light, Medium and 
       Dark Green) and graded the governance procedures in relation to green 
           financing as Good. 
 
        This is the third sustainability-linked loan in the Company's credit 
 portfolio with the share of ESG instruments now reaching 18% of net debt or 
           US$ 280 million in total. 
 
 The Framework and the Second Party Opinion are available on our web site at 
           link [1]. 
 
           About Polymetal 
 
  Polymetal International plc (together with its subsidiaries - "Polymetal", 
   the "Company", or the "Group") is a top-10 global gold producer and top-5 
    global silver producer with assets in Russia and Kazakhstan. The Company 
           combines strong growth with a robust dividend yield. 
 
Enquiries 
 
Media                     Investor Relations 
 
FTI          +44 20 3727  Polymetal ir@polymetalinternational.com 
Consulting   1000 
 
                          Evgeny    +44 20 7887 1475 (UK) 
Leonid Fink               Monakhov 
 
Viktor                    Timofey 
Pomichal                  Kulakov 
 
                                    +7 812 334 3666 (Russia) 
 
                          Kirill 
                          Kuznetsov 
 
Joint Corporate Brokers 
 
Morgan       +44 20 7425  RBC       +44 20 7653 4000 
Stanley &    8000         Europe 
Co.                       Limited 
Internationa 
l plc 
 
                          Marcus 
                          Jackson 
Andrew 
Foster 
 
                          Jamil 
                          Miah 
Richard 
Brown 
 
Panmure 
Gordon 
             +44 20 7886 
             2500 
 
Daniel 
Norman 
 
John Prior 
 
Forward-looking statements 
 
       This release may include statements that are, or may be deemed to be, 
"forward-looking statements". These forward-looking statements speak only as 
        at the date of this release. These forward-looking statements can be 
   identified by the use of forward-looking terminology, including the words 
         "targets", "believes", "expects", "aims", "intends", "will", "may", 
   "anticipates", "would", "could" or "should" or similar expressions or, in 
each case their negative or other variations or by discussion of strategies, 
plans, objectives, goals, future events or intentions. These forward-looking 
      statements all include matters that are not historical facts. By their 
    nature, such forward-looking statements involve known and unknown risks, 
 uncertainties and other important factors beyond the company's control that 
  could cause the actual results, performance or achievements of the company 
 to be materially different from future results, performance or achievements 
           expressed or implied by such forward-looking statements. Such 
  forward-looking statements are based on numerous assumptions regarding the 
     company's present and future business strategies and the environment in 
which the company will operate in the future. Forward-looking statements are 
     not guarantees of future performance. There are many factors that could 
   cause the company's actual results, performance or achievements to differ 
     materially from those expressed in such forward-looking statements. The 
company expressly disclaims any obligation or undertaking to disseminate any 
  updates or revisions to any forward-looking statements contained herein to 
 reflect any change in the company's expectations with regard thereto or any 
  change in events, conditions or circumstances on which any such statements 
           are based. 
 
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[1] Based on the company's sustainability targets published this year. 
 
[2] https://www.cicero.green/ [2]. 
 
ISIN:          JE00B6T5S470 
Category Code: MSCM 
TIDM:          POLY 
Sequence No.:  86957 
EQS News ID:   1144453 
 
End of Announcement EQS News Service 
 
 
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(END) Dow Jones Newswires

November 02, 2020 02:00 ET (07:00 GMT)

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