By John Meyer, financial consultant, for Eurasia Business News, March 30, 2022

The gold mining company Polyus announced the successful payment of dollar Eurobonds.

The issuer of Eurobonds, Polyus Finance plc (an indirect wholly-owned subsidiary of Polyus) reported that the London division of the Bank of New York Mellon confirmed the payment of the principal amount of debt and coupon income on Eurobonds on March 28, announced the company today.

Debt securities in the amount of about $ 483 million were in circulation in the market. The planned date of repayment of the issue and payment of the accumulated coupon income is March 28.

In recent weeks, the market’s attention has been focused on coupon payments of Russian issuers on foreign currency obligations amid growing Western sanctions pressure on Russia and the introduction of a special payment regime on foreign currency debt of the Russian Federation.

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Polyus is Russia’s largest gold mining company. Develops ore and placer deposits in the Krasnoyarsk Territory, Irkutsk and Magadan regions, as well as in Yakutia. Said Kerimov owns 76.34% of the gold miner through Wandle Holdings Limited.

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The mining company 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 (proven and probable reserves according to the international classification are 104 million ounces).

Polyus claims to have the lowest production costs among major global gold producers.

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The main facilities of Polyus are located in Siberia and the Russian Far East : the Krasnoyarsk Territory, Irkutsk and Magadan regions, as well as in the Republic of Sakha (Yakutia). Facilities cover five operating mines and a number of projects under construction and development.

To contact the author, write at : swann.collins.consulting@gmail.com

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