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Polymetal agrees to $125M green loan

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Nov 3, 2020 Precious Metals News Comments Off on Polymetal agrees to $125M green loan



Polymetal announced today it 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.

Polymetal is a top 10 gold producer and top five silver producer.

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.

“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.

Polymetal has over 11,000 employees.



Disclaimer: The views expressed in this article are those of the author and may not reflect those of Wallace Precious Metals The author has made every effort to ensure accuracy of information provided; however, neither Wallace Precious Metals nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Wallace Precious Metals and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.



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