No. 27/2012 | 14-02-2012
PGNiG: Execution of a loan agreement with PGNiG Finance AB
The Management Board of Polskie Górnictwo Naftowe i Gazownictwo SA (“PGNiG”) hereby reports that on February 14th 2012 it entered into a loan agreement with a subsidiary, PGNiG Finance AB of Stockholm. Under the agreement, PGNiG will receive a loan of funds raised by PGNiG Finance AB from the Eurobond issue.
PGNiG reported the terms of the Eurobond issue by PGNiG Finance AB in Current Report No. 25/2012 of February 10th 2012.
PGNiG is the sole shareholder of PGNiG Finance AB.
Under the Loan Agreement, PGNiG Finance AB will advance a loan of up to EUR 500,000,000 (up to PLN 2,097,400,000, as translated at the mid exchange rate quoted by the National Bank of Poland for February 13th 2012) to PGNiG, to be used for general financing purposes.
The loan bears interest at a fixed rate based on the Eurobond coupon and margin.
The Loan Agreement was concluded for a period of 5 years.
The loan is unsecured.
The Loan Agreement is a “significant agreement” within the meaning of the Minister of Finance’s Regulation on current and periodic information to be published by issuers of securities and conditions for recognition as equivalent of information whose disclosure is required under the laws of a non-member state, dated February 19th 2009, as its value exceeds 10% of PGNiG’s equity.