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Polymetal International agrees $125 million green loan
StockMarketWire.com
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Russian gold and silver miner Polymetal International has agreed a $125 million loan with Societe Generale to finance its ESG investments.
Polymetal said the loan proceeds will be allocated to projects in clean transportation, renewable energy, energy efficiency and sustainable waste and water management projects, which the firm said contributes to its sustainability goals and actions against climate change.
This is the third sustainability-linked loan in Polymetal's credit portfolio, with the share of ESG instruments now reaching 18% of net debt or $280 million in total.
The company said its expects to allocate all of the proceeds within 24 months.
Polymetal's corporate finance director Eugenia Onuschenko said, '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.'
Story provided by StockMarketWire.com
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