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Debevoise Advises Polyus Gold on Eurobond Offering

Debevoise Advises Polyus Gold on Eurobond Offering


The Moscow and London offices of Debevoise & Plimpton have advised longstanding client Polyus Gold International in its USD 500 million Eurobond offering, due March 28, 2022 with a coupon of 4.699% per annum.

Polyus Gold is the largest gold producer in Russia and one of the top 10 gold miners globally by ounces produced. The company holds the fourth largest mineral resources base in the world. It intends to use the net proceeds from the issuance primarily for debt refinancing and other general corporate purposes, including the financing of operating activities and development projects of the Polyus Group.

Debevoise has advised Polyus Gold on a number of significant capital market transactions in recent years. The firm advised on Polyus Gold’s debut Eurobond issuance in 2013, and recently advised the company in its USD 3.4 billion subsidiary buyback of shares and American depository receipts.

The Debevoise team advising on the issuance was led by Moscow Partner Natalia Drebezgina and London Partner James Scoville. The team also included International Counsel Vera Losonci, and Associates Laurence Hanesworth, Timur Ochkhaev, Christopher Salz, and Daria Serebrova. Tax advice was provided by London Partner Richard Ward, International Counsel Cecile Beurrier, and Associates Patrick Fasoro and Ellie Mends.