Polski Koncern Naftowy ORLEN S.A. ("PKN ORLEN") hereby informs that in order to optimise the management of financial liquidity within the ORLEN Capital Group, on 18 August 2016 PKN ORLEN issued short term bonds to its subsidiary, Ship-Service S.A. (“Ship-Service”). The bonds were issued in accordance with the Bond Issue Programme signed by PKN ORLEN and a syndicate of 6 banks in November 2006.
The bonds are used for managing the working capital of ORLEN Capital Group.
The bonds were issued in compliance with the Law on Bonds dated 15 January 2015 (Journal of Laws, 2015, point 238.) in Polish zlotys, as bearer, dematerialized, unsecured, and zero-coupon securities. The redemption of the bonds will be at their nominal value.
The bonds purchased today by Ship-Service were issued by PKN ORLEN with the following issue conditions:
Series: ORLEN1283 010916; value of the bond issue PLN 6 500 000; composed of 65 bonds with a nominal value of PLN 100 000 per bond.
- Date of issue: 18 August 2016
- Redemption date: 1 September 2016
- Yield on bonds: based on market conditions, unit nominal price amounted to PLN 99 935.90.
Bonds of series: ORLEN1283 010916 replace the bonds issued on 16 August 2016 of series: ORLEN1281 260816, which were subject to earlier redemption on 18 August 2016.
PKN ORLEN owns 60,9% of the registered capital of Ship-Service.
See also: regulatory announcement no 75/2006 dated 27 November 2006.