Edition:
India

Tauron Polska Energia Signs Loan Agreement Replacing Bond Issue Programme


Wednesday, 19 Jun 2019 

June 21 (Reuters) - Tauron Polska Energia SA ::SAID ON WEDNESDAY IT HAS SIGNED 6.07 BILLION ZLOTY LOAN AGREEMENT WITH BANK HANDLOWY W WARSZAWIE, SANTANDER BANK POLSKA, CAIXABANK ODDZIAL W POLSCE, INDUSTRIAL AND COMMERCIAL BANK OF CHINA(EUROPE) ODDZIAL W POLSCE, ING BANK SLASKI, MBANK, MUFG BANK (EUROPE), MUFG BANK (EUROPE) ODDZIAL W POLSCE AND POWSZECHNA KASA OSZCZEDNOSCI BANK POLSKI .THE LOAN AGREEMENT REPLACES THE BOND ISSUE PROGRAMME FOR UP TO 6.27 BILLION ZLOTYS CONCLUDED WITH THE ABOVE BANKS AND WITH BNP PARIBAS BANK POLSKA ON NOVEMBER 24, 2015 .BNP PARIBAS BANK POLSKA WILL CONTINUE TO FINANCE COMPANY UNDER BOND ISSUE PROGRAMME.KEY FINANCING PARAMETERS SPECIFIED IN THE LOAN AGREEMENT HAVE NOT CHANGED WITH RESPECT TO THE BOND ISSUE PROGRAMME.UNDER LOAN AGREEMENT COMPANY HAS RECEIVED FINANCING OF 6.07 BILLION ZLOTYS TILL DECEMBER 31, 2021 AND 5.82 BILLION ZLOTYS TILL DECEMBER 31, 2022.FUNDS OBTAINED UNDER LOAN WILL BE USED TO REDEEM BONDS UNDER BOND ISSUE PROGRAMME AS WELL AS TO IMPLEMENT UPDATED STRATEGY FOR 2016 - 2025, WHICH ASSUMES INCREASING RENEWABLE SOURCES IN THE GROUP'S GENERATING ASSETS.