MOSCOW, April 14 Russia's largest gold producer
Polyus Gold said on Monday that its subsidiary CJSC
Polyus has entered into a 5-year credit facility agreement with
Sberbank, Russia's largest lender, for up to 36
billion roubles ($1 billion).
Polyus plans to use the proceeds to refinance its existing
loans and for general corporate purposes, including financing
capital investment projects, the company said in a statement.
"The facility will enable Polyus Gold to reduce the average
interest rate on our debt and help secure the financing of our
key capital investment projects, such as Natalka," Pavel
Grachev, Polyus interim chief executive, said in the statement.
(Reporting by Polina Devitt, editing by Megan Davies)