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Current Report No. 58/2019

19.12.2019 20:30

Signing of the loan agreement with Intesa Sanpaolo S.P.A.

TAURON Polska Energia S.A. (”Issuer") announces that, on December 19, 2019, it concluded with Intesa Sanpaolo S.P.A., acting via Intesa Sanpaolo S.P.A. S.A. Oddział w Polsce (Polish Branch) (”Bank”), a loan agreement worth PLN 750 million ("Loan Agreement”), the proceeds from which may be used to cover the Issuer’s Capital Group’s capital expenditures, including, in particular, the outlays related to:

1) broadly understood renewable energy,
2) electricity distribution, including grid extension and upgrade,
3) refinancing of the Issuer’s existing financial debt,

with a caveat that the said financing will not be used to finance or refinance projects related to coal assets.

In accordance with the Loan Agreement the Issuer will be able to utilize the funds within four months from the Loan Agreement date (after the suspending conditions that are standard for this type of financing have been met). Loan repayment will take place after five years have elapsed from the date of concluding the Loan Agreement.

Interest will be calculated based on the floating interest rate (WIBOR) increased by the Bank’s margin.

The acquisition of a new source of financing by concluding the Loan Agreement contributes to the strengthening of the Issuer’s financial stability.

Art. 17, clause 1 of MAR – inside information.

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