DLA Piper has suggested Societe Generale, one in every of Europe’s main monetary providers teams, on the USD125 million loan to Polymetal, a worldwide gold and silver producer with belongings in Russia and Kazakhstan, to finance investments in transition to a sustainable and low-emissions economic system. This is the primary inexperienced loan within the Russian mining sector.
Societe Generale will present a six-year loan with a three-year grace interval under Polymetal’s Green Financing Framework, which specifies eligible environmental, social and governance (ESG) tasks and standards for his or her long-term funding. The loan may be prolonged to seven years on the primary anniversary of signing.
The loan proceeds will likely be allotted to tasks among the many following classes inside 24 months from the primary utilisation: clean transportation, renewable power, power best use of time and sustainable waste and water administration tasks, which contribute to Polymetal’s sustainability targets and actions in opposition to local weather change.
DLA Piper’s Moscow-based Finance and Projects crew was led by associate and observe head Karen Young, supported by authorized director Alexei Kolesnikov and associates Ksenia Mikhaylova and Daria Vasilieva.
Commenting, Karen Young stated: “We are especially honoured to be structuring this first green loan in the Russian mining sector and bring our global experience and innovative solutions across the sustainability and ESG spectrum to the table. The successful completion of this transaction is yet another illustration of our commitment to making businesses better by helping clients and communities transition to a low-carbon economy and a more sustainable future.”