Polymetal attracts $170 million from VTB to refinance debt to Alfa Bank
Edited by Rhod Mackenzie / 2015-08-25 02:31:55
Polymetal Int has attracted new four-year loan from VTB Bank for $170 million to refinance its debt to Alfa Bank, the company reports.
Thus, the amount of debt to Alfa Bank, repayable in September 2015, declined from $318.5 million to $50 million. The loan was refinanced in part by the loan from VTB and also prepaid by the accumulated cash reserves. The remaining $50 million will be repaid out of available free cash flow before the end of August.
