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Polyus signs 65B ruble credit line

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Polyus signs 65B ruble credit line

PJSC Polyus said Aug. 13 that it signed an agreement with Russian state-owned Sberbank for a new credit line worth 65 billion Russian rubles.

The facility will replace a credit line maturing in 2019, of which the company used 33 billion rubles and swapped it into dollars in 2014.

The Russian gold miner plans to repay the principal amount and liabilities under cross-currency swaps for a total of about US$1 billion in 2019, in line with the current maturity schedule, according to a news release.

The new facility will be available for drawdown once the previous one matures in April 2019.

As of Aug. 10, US$1 was equivalent to 67.51 Russian rubles.