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Current Report No. 13/2020

25.03.2020 17:50

Signing of the syndicated loan agreement worth PLN 500 million

TAURON Polska Energia S.A. (“Issuer”) announces that on March 25, 2020, it concluded a syndicated loan agreement worth PLN 500 million with Banca IMI S.P.A., London Branch as the main organizer (lead coordinator) and bookrunner (“Main Organizer”), Banca IMI S.P.A. as the loan agent, Intesa Sanpaolo S.P.A. acting through Intesa Sanpaolo S.P.A. S.A. Oddział w Polsce (Polish Branch), as the payment and financing agent, and China Construction Bank (Europe) S.A. acting through China Construction Bank (Europe) S.A. (Spółka Akcyjna) (Joint Stock Company) Oddział w Polsce (Polish Branch), as the main organizer (lead coordinator), bookrunner and the financing agent (“Loan Agreement”). The funds from the Loan Agreement may be used to finance the Issuer’s and the Issuer Group’s general corporate purposes, excluding the financing of any new projects related to the coal assets.

In accordance with the Loan Agreement, the financing period is 5 years from the date of concluding the Loan Agreement, with an option to extend it, twice, by a year, i.e. up to 7 years maximum (“Financing Period”).

The Issuer will be able to use the funds throughout the entire Financing Period (after the suspending conditions that are standard for this type of financing have been met).

The interest rate will be calculated based on the variable WIBOR interest rate, applicable to the given interest period, increased by a margin depending, among others on the degree of loan utilization and the fulfillment of the pro-ecological contractual conditions, i.e. the reduction of emissions and an increase of the share of renewable energy sources in the Issuer Group’s generation fleet structure.

Art. 17 sec. 1 of MAR - inside information

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