IKS Solino takes an investment loan

Polski Koncern Naftowy ORLEN SA (“PKN ORLEN”), Central Europe’s largest downstream oil company, informs that Inowroclawskie Kopalnie Soli “Solino” SA (‘IKS Solino’) signed an agreement with Bank Handlowy w Warszawie SA for an investment loan of PLN 31,850,000. The loan shall be utilised to finance the 2nd stage of construction of underground fuel storage facilities.
The loan is secured by the assignment of receivables resulting from general lease agreement between PKN ORLEN and IKS Solino and collateral against the assets created by the investment. IKS Solino equity totals PLN 66, 095, 700.