The consent to change the bond issue programme agreement from 2006 and commencement of works on issue of new series of bonds

PKN ORLEN S.A. (“Company”) informs that the Supervisory Board of PKN ORLEN S.A., following its meeting on 28 October 2020 gave consent to change the Agreement for a Bond Issue Programme, signed on 27 November 2006, with subsequent annexes, (“Programme Agreement”) as well as to prepare its unified text and to incur, by the Company, liabilities resulting from the changed Programme Agreement.

Changes to the Programme Agreement include: adjustment of its provisions to the amended law and to the current market conditions, as well as adding to the issue documents form an ESG component enabling an issue of so called green or sustain bonds.

The Company, within the bond issue programme set on the base of the Programme Agreement, has started works on conducting, by the end of 2020, the issue of unsecured, bearer bonds with the total value not higher than PLN 1 bn with 5 year maturity. The Company will consider implementing ESG elements to the issue. The issue would be directed to institutional investors through a public offer. The issue of bonds will be subject to certain corporate approvals as well as to adequate debt market conditions.

See also regulatory announcements: no 103/2018 dated 24 October 2018, no 102/2018 dated 24 October 2018, no 13/2007 dated 20 February 2007 and no 75/2006 dated 27 November 2006.

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