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Russia's Polymetal nets US$75M facility linked to environment, social indicators

Polymetal International PLC agreed to its second bilateral sustainability-linked credit facility of up to US$75 million with Société Générale SA, increasing the group's total share of such financing to US$155 million.

The facility incorporates an adjustment mechanism linking the loan pricing to five of the company's key environmental and social indicators, according to a Sept. 12 release.

The company's targets include implementing a comprehensive climate management system, ensuring tailings storage safety, reducing freshwater use, maintaining occupational health and safety, and supporting local communities, all of which will be monitored annually.

In April 2018, Polymetal partnered with ING bank on a sustainability-linked loan for US$80 million.