Polyus has agreed on the change of euro bonds covenants for $750 mln

​The holders of euro bonds of Polyus Gold International Ltd have approved the change of covenants for the amount of $750 mln with the settlement in 2020, the company reports.

Thus Polyus Gold will be able to correct the conditions of issue so as to provide itself with an opportunity of potential reorganization which, in particular, might result in the change of bonds issuer as the company considers variants of its re-registration in Russia.

Moreover, Polyus Gold now can change the parameters of EBITDA/loans ratio so that the rate would be counted referring to the net debt of the group (previously to the total debt).