Russian gold miner Polymetal gets $150 million credit

摘要

Russian gold-silver miner Polymetal has nentered into a $150 million credit facility nagreement with ZAO Raiffeisenbank, the com-npany said Tuesday. The funds to be drawn nunder the agreement will be used to refinance nthe company’s existing loans and finance ongoing operations of its subsidiaries, nand will be repaid in equal quarterly ninstallments following a grace period of ntwo years. The interest rate applicable nto each three-month interest period will nbe the sum of the three-month LIBOR nin US dollars and a margin of 3.5% per nannum. The maturity date of the deal is nSeptember 30, 2015. The miner, which nhas operations and development sites nin Russia and Kazakhstan, produced n209,000 oz of gold and 9.6 million oz of nsilver in the first half of 2010.