PKN ORLEN signed a USD 200 million syndicated loan

Polski Koncern Naftowy ORLEN SA (PKN ORLEN SA), Central Europe's largest downstream oil company, announces that it has signed a USD 200 million syndicated loan with a consortium of Polish and International banks to finance routine operations such as commercial, investment, finance transactions as well as tax obligations. The loan can be drawn in both USD and Euro. Its floating interest rate is based on LIBOR plus 0.35 per cent of annual margin, one of the lowest rates ever granted to a Polish company for a consortium loan.

The loan is not secured by any encumbrance on the assets of PKN ORLEN SA and is to be repaid within three years.The syndicate was arranged by ABN AMRO Bank N.V. and is made up of the following: Bayerische Landesbank Girozentrale, Westdeutsche Landesbank Girozentrale, The Bank of Tokyo-Mitsubishi, Ltd., Bank Slaski w Katowicach SA, The Fuji Bank, Ltd., Wielkopolski Bank Kredytowy SA, Citibank NA, Unicredito Italiano SpA, Banca di Roma, Magyar Kulkereskedeimi Bank.