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 26 September 2016 PKN ORLEN issued short term bonds to its subsidiary, ORLEN Upstream Sp. z o.o. („ORLEN Upstream”). 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 ORLEN Upstream were issued by PKN ORLEN with the following issue conditions:
Series ORLEN1300 251016; value of the bond issue PLN 35 000 000 composed of 350 bonds with a nominal value of PLN 100 000 per bond.
- Date of issue: 26 September 2016
- Redemption date: 25 October 2016
- Yield on bonds: based on market conditions, unit nominal price amounted to PLN 99 867.30.
PKN ORLEN owns 100% of the registered capital of ORLEN Upstream.
See also: regulatory announcement no 75/2006 dated 27 November 2006.