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DLA Piper Advises Societe Generale on Green Loan to Russian Mining Sector

DLA Piper Advises Societe Generale on Green Loan to Russian Mining Sector

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DLA Piper has advised Societe Generale on a USD 125 million loan to Polymetal, a gold and silver producer with assets in Russia and Kazakhstan, to finance investments in the transition to a sustainable and low-emissions economy. This is the first green loan in the Russian mining sector.

According to DLA Piper, “Societe Generale will provide a six-year loan with a three-year grace period under Polymetal’s Green Financing Framework, which specifies eligible environmental, social, and governance projects and criteria for their long-term funding. The loan can be extended to seven years on the first anniversary of the signing. The loan proceeds will be allocated to projects among the following categories within 24 months from the first utilization: clean transportation, renewable energy, energy efficiency, and sustainable waste, and water management projects.”

DLA Piper’s Moscow-based team was led by Partner Karen Young and included Legal Director Alexei Kolesnikov and Associates Ksenia Mikhaylova and Daria Vasilieva.

DLA Piper did not reply to our inquiry on the matter.

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Founded in 1993, Egorov Puginsky Afanasiev & Partners is the leading full-service law firm in the CIS with offices in Russia, Ukraine and Belarus and associated offices in the UK, the USA and Cyprus.

We advise its clients in many areas of law, including: dispute resolution in Russia and abroad, corporate law, M&A, antitrust issues, project finance and PPP, restructurings and insolvencies, energy and natural resources, property management and privatization, environment, technical regulation and industrial safety, banking and finance, intellectual property, criminal law, real estate and construction, taxation, family and labour disputes, marine and transport law, and international trade and customs.

We combine high academic qualifications, internationally acknowledged moral and ethical values, senior partners' professional experience and practical abilities with the vigour and knowledge of younger attorneys that enables thus providing clients with reliable, first-class service according to both Russian and western standards through a flexible structure.

All News about, and Legal Analysis by, Egorov Puginsky Afanasiev & Partners can be found here.

Firm's website: www.epam.ru

 

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