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Wednesday, November 13, 2019

Societe Generale and Rosbank extend credit to Polymetal

International financial group Societe Generale and universal Russian Bank Rosbank recently signed a loan agreement with JSC Polymetal, a leading Russian gold producer and one of the world largest silver producers.

The loan is worth a total of $100 million over a period of three years. Under the agreement, Polymetal will use proceeds to repay existing loans and finance current operations.

"This history of cooperation between Societe Generale and JSC Polymetal began in 2004," Rosbank Senior Vice President Irina Usachova said. "Since then, we have participated in the development of the company. Societe General end Rosbank plan to continue active cooperation with Russia's largest companies in the sector of natural resources."