Debevoise & Plimpton has advised Polyus on its USD 700 million seven-year eurobond offering with an annual coupon rate of 3.25% and the related tender offer for outstanding notes due 2022-2024.
According to Debevoise, the proceeds will be used to finance the purchase of existing notes due 2023 and 2024 for the aggregate principal amount of USD 605.3 million, as well as for Polyus’s general corporate purposes.
According to Debevoise, Polyus is the world's fourth-largest gold mining company by production volumes and the largest gold miner in terms of attributable gold ore reserves. “The company demonstrates the lowest production costs among major global gold producers. Its principal operations are located in Siberia and the Russian Far East: Krasnoyarsk, Irkutsk, and Magadan regions and the Republic of Sakha (Yakutia).”
The Debevoise team included Partners Natalia Drebezgina, James Scoville, Cecile Beurrier, Richard Ward, and Alan Davies, Counsels Dmitry Karamyslov and Patrick Fasoro, and Associates Laurence Hanesworth, Alexey Khnalkov, Joseph Mash, Timur Ochkhaev, Olga Panfilova, and Heather Atkins.
Debevoise did not reply to our inquiry on the matter.
