logo
  

Polymetal Agrees To $125 Mln Green Loan From Societe Generale Under Green Financing Framework

Gold and silver producer Polymetal International plc (POLY.L) Monday said it has agreed a $125 million Green Loan under the newly adopted Green Financing Framework with Societe Generale.

The loan would finance investments in transition to a sustainable and low-emissions economy under the Green Financing Framework. It is the first green loan in the Russian metals and mining industry.

As per the deal, 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.

Polymetal said it intends to fully allocate the green loan proceeds towards the eligible green projects within 24 months from the first utilisation.

The loan proceeds will be allocated to projects among various categories, such as clean transportation, renewable energy, energy efficiency and sustainable waste and water management projects. These would contribute to Polymetal's sustainability goals and actions against climate change.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Asweets Global Inc. is recalling about 2,000 units of Wonder & Wise Activity Tables for potential risk of choking hazard to young children, a statement by the U.S. Consumer Product Safety Commission (CPSC) showed. The company said the screws of the tables can become loose and/or detach from the xylophone component of the activity tables to pose a choking hazard to young children. Chinese e-commerce giant Alibaba Group Holdings Ltd. (BABA) reported Thursday a net loss for the fourth quarter that sharply widened from last year, despite 9 percent growth in revenues, hurt by a decreases in the market prices of our equity investments in publicly-traded companies. Omni-channel fashion retailer Macy's, Inc. (M) reported Thursday a first-quarter net income of $286 million or $0.98 per share, sharply higher than $103 million or $0.32 per share in the prior-year quarter. Excluding items, adjusted net income for the quarter was $315 million or $1.08 per share, compared...
RELATED NEWS
Follow RTT