Current reports

Current reports

Current reports

Current report no. 31/2022

Conclusion of a loan agreement by Farma Wiatrowa Kazimierz Biskupi sp. z o.o. with Bank Gospodarstwa Krajowego 


Legal basis:

Art. 17 sec. 1 MAR – inside information


Contents of the report:

ZE PAK S.A. („Company”) informs that on September 20, 2022, Farma Wiatrowa Kazimierz Biskupi sp. z o.o. with its registered office in Konin (an indirect subsidiary of the Company) ("Farma Kazimierz"), concluded a loan agreement ("Agreement") with Bank Gospodarstwa Krajowego ("Bank"), under which the Bank granted Farma Kazimierz an investment loan of up to PLN 135 million ("Investment Loan") and a VAT loan of up to PLN 30 million ("VAT Loan" and together with the Investment Loan as "Loans"). The loans are intended for financing and refinancing the construction costs of a wind farm with a total installed capacity of 17.5 MW in Kazimierz Biskupi commune, Greater Poland Voivodeship.


Pursuant to the Agreement, Farma Kazimierz, as the borrower, undertook to contribute its own share from its own funds, in the amount of not less than PLN 35.3 million. The final repayment date of the Investment Loan is December 20, 2038, while the final repayment date of the VAT Loan is March 20, 2024. The interest rate applicable to each use of the Loan is equal to the annual interest rate, being the sum of the margin specified in the Agreement and the relevant WIBOR rate. For granting the Loans, the Bank is entitled to commissions, the amount of which has been set at a level not deviating from market rates.


The other obligations of the Borrower, resulting from the Agreement, do not differ from those commonly used in similar loan transactions, in particular with regard to maintaining selected financial ratios at the level specified in the Agreement.


Completion of the construction of the wind farm is planned for the third quarter of 2023. One of the contractors of the subject project is Przedsiębiorstwo Remontowe PAK Serwis sp. z o.o. (indirect subsidiary of the Company).


It is planned to establish appropriate securities in connection with the Agreement. It is also planned to conclude with Polkomtel sp. z o.o. direct contracts and contracts for the sale of electricity produced by Farma Kazimierz ("PPA Agreement"). The Company will inform about the establishment of collateral and the conclusion of the PPA Agreement in separate reports.



Signatures of persons representing the Company:

Piotr Woźny – President of the Management Board

Maciej Nietopiel – Vice President of the Management Board

Andrzej Janiszowski – Vice President of the Management Board