OREANDA-NEWS. October 18, 2010. JSC "Polymetal" (LSE, MICEX, RTS: PMTL) ("Polymetal" or the "Company") announces that it has entered into a credit facility agreement with ZAO Raiffeisenbank for the total amount of USD150 million (the "Agreement"), reported the press-centre of Polymetal.

The funds to be drawn under the Agreement will be used to refinance the Company's existing loans and finance ongoing operations of its subsidiaries, and will be repaid in equal quarterly installments following a grace period of 2 years. The interest rate applicable to each three-month interest period will be the sum of the three-month LIBOR in US Dollars and a margin of 3.5% per annum. The final maturity date of the Agreement is September 30, 2015.

"This facility represents another important step towards the optimization of Polymetal's debt portfolio and strengthens our long-term cooperation with Raiffeisenbank," said Vitaly Nesis, CEO of Polymetal. "Of particular importance is the extension of debt maturity which brings the duration of the Company's liabilities more in line with the useful life of its assets."