Debevoise Advises Polyus Gold in its $500 million Eurobond Offering

01 November 2016

The Moscow and London offices of Debevoise & Plimpton LLP have advised longstanding client Polyus Gold International (“Polyus Gold”) in its $500 million Eurobond offering, due 28 March 2022 with a coupon of 4.699% per annum.

Polyus Gold intends to use the net proceeds from the issuance primarily for debt refinancing and other general corporate purposes, including the financing of operating activities and development projects of the Polyus Group.

Polyus Gold is the largest gold producer in Russia and one of the top 10 gold miners globally by ounces produced. The company holds the fourth largest mineral resources base in the world.

Debevoise has advised Polyus Gold on a number of significant capital market transactions in recent years. The firm advised on Polyus Gold’s debut Eurobond issuance in 2013, and recently advised the company in its $3.4 billion subsidiary buyback of shares and American depository receipts.

The Debevoise team advising on the issuance was led by Moscow partner Natalia A. Drebezgina and London partner James C. Scoville. The team also included international counsel Vera Losonci, and associates Laurence Hanesworth, Timur G. Ochkhaev, Christopher Salz and Daria A. Serebrova. Tax advice was provided by London partner Richard Ward, as well as international counsel Cécile Beurrier and associates Patrick Fasoro and Ellie Mends.

Debevoise & Plimpton LLP is a premier law firm with market-leading practices, a global perspective and strong New York roots. We deliver effective solutions to our clients’ most important legal challenges, applying clear commercial judgment and a distinctively collaborative approach.