Current reports

Current reports

Current reports

Current report no. 30/2016

Annex to the credit agreement

Legal basis:

Art. 56 section 1 point 2 of the Public Offering Act - Current and periodic information

Contents of the report:

In reference to the current report no. 33/2015 of 8 December 2015, no. 16/2016 of 10 May 2016 and no. 21/2016 of 31 May 2016, on the arrangements concluded between Zespół Elektrowni Pątnów-Adamów-Konin S.A. (“Company”, „Borrower”) and a consortium of banks consisting of: mBank S.A., Bank Gospodarstwa Krajowego, Bank Millennium S.A., Bank Polska Kasa Opieki S.A. and Powszechna Kasa Oszczędności Bank Polski S.A. (“Consortium,” “Lenders”) of the credit agreement in the amount of PLN 1,200 million (“Agreement”, “Credit”), the Company informs that on 30 June 2016, the Company signed with the Consortium an annex to the Agreement („Annex”).

In the Annex, the parties agreed that the decision of the Borrower for the resignation of external financing for the modernization of units 3 and 4 in Pątnów I Power Plant, which was to be awarded on the basis of the Agreement shall not constitute a condition precedent. There was a change of the date of final repayment of the credit, which is now till 20 March 2020 (31 December 2023 previously). In frames of the Agreement the Company withdrawn amount of PLN 667 m and voluntary releases PLN 533 m of unused loan amount on modernisations of units 3 and 4. Current debt under the Agreement amounts to PLN 581 m. The financial terms of the Credit remain under conditions similar to market rates. Other conditions of the Credit are similar to those adopted for this type of agreements.

Legal basis: § 5 section 1 item 3 of the Finance Minister’s Regulation of 19 February 2009 on the Current and Periodic Information Transmitted by Securities Issuers and the Conditions for Recognizing the Information Required by the Regulations of a Non-Member State as Equivalent.

Signatures of persons representing the company:

Adam Kłapszta – acting President of the Management Board

Adrian Kaźmierczak – Vice President of the Management Board