Current reports
Current report no. 12/2026
Repayment of the total debt of PAK CCGT sp. z o.o. under the loan agreement concluded with EFG Bank
Legal basis:
Art. 17 sec. 1 MAR – inside information
Content of the report:
With reference to Current Report No. 3/2025 dated April 25, 2025 and Current Report No. 23/2025 dated September 25, 2025, as well as Current Report No. 36/2025 dated December 17, 2025, ZE PAK S.A. (“Company”) hereby announces that on March 26, 2026, PAK CCGT sp. z o.o. (an indirect subsidiary of the Company) (“PAK CCGT”) repaid in full the debt under the loan agreement concluded with EFG Bank with its registered office in Luxembourg (“EFG Loan Agreement”). The debt under the EFG Loan Agreement was repaid from funds made available under the loan agreement concluded by PAK CCGT, the conclusion of which was announced by the Company in Current Report No. 36/2025 dated December 17, 2025 ("Syndicated Loan Agreement"). The funds were made available under the Syndicated Loan Agreement after the conditions precedent for the loan disbursement were met, including the submission of a guarantee granted by Korporacja Ubezpieczeń Kredytów Eksportowych S.A. and the establishment of the security required by the Syndicated Loan Agreement, including:
- a registered pledge on a collection of movable assets and property rights of variable composition constituting the PAK CCGT enterprise;
- financial and registered pledges on all shares in PAK CCGT, along with a power of attorney to exercise corporate rights attached to shares in PAK CCGT;
- financial and registered pledges on receivables under PAK CCGT bank account agreements;
- a power of attorney over PAK CCGT bank accounts;
- a subordination (governed by English law) of receivables owed to PAK CCGT by PAK Holdco Bis sp. z o.o., a subsidiary of the Company;
- a power of attorney to convert receivables into shares in PAK CCGT;
- a security assignment (governed by Polish law) of certain rights, including receivables under insurance agreements and project documents owed to PAK CCGT, as well as loan agreements granted to PAK CCGT;
- the conclusion of a support agreement between the Company, PAK Holdco Bis sp. z o.o., and PAK CGGT, including potential cost overruns, and in connection with this agreement, the establishment of a deposit by the Company in the amount of PLN 120,000,000;
- security (charge-over contracts) under English law regarding tax documents entered into in connection with the Syndicated Loan Agreement;
- a mortgage on the real estate of PAK CCGT; and
- declarations of submission to enforcement by PAK CCGT and PAK Holdco Bis sp. z o.o.
Signatures of persons representing the Company:
Piotr Żak – President of the Management Board
Bartłomiej Drywa – Vice President of the Management Board
Maciej Nietopiel – Vice President of the Management Board