Polskie Górnictwo Naftowe i Gazownictwo S.A.

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PGNiG : Current Report No. 47/2016

May 30, 2016 at 04:52 am EDT

2016.05.30 Current Report No. 47/2016

Warsaw, May 30th 2016

PGNiG Notes Placed with the Group Subsidiaries

Current Report No. 47/2016

The Management Board of Polskie Górnictwo Naftowe i Gazownictwo SA ('PGNiG') reports on the acquisition of PGNiG debt securities by the Group subsidiaries.

On May 30th 2016, PGNiG issued notes (the 'Notes') under the Short-Term Note Issue Programme dated May 6th 2014 (the 'Programme'). The aggregate par value of the Notes is PLN 200,000,000.00 (two hundred million złoty), including:

- 2000 Notes with the total value of PLN 200,000,000.00 (two hundred million złoty), maturing on June 30th 2016 and yielding 1.73% per annum, which have been acquired by Polska Spółka Gazownictwa Sp.z o.o. in which PGNiG holds a 100% stake and has the right to 100% of the total vote at the General Meeting.

The par value of one Note is PLN 100,000.00 (one hundred thousand złoty).

All the Notes are denominated in the Polish złoty and have been offered in a private placement exclusively in the territory of Poland.

The Notes are unsecured discount bearer notes in book-entry form, and will be redeemed at par value.

PGNiG has no plans to introduce the Notes to public trading.

The Programme is a tool designed to effectively manage short-term liquidity within the PGNiG Group.

Following the Note issue discussed above, the total par value of notes issued under the Programme and outstanding as at May 30th, 2016 is PLN 1 000,000,000.00 (one billion złoty).

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PGNiG - Polish Oil & Gas Company published this content on 30 May 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 30 May 2016 08:51:10 UTC.

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Polskie Górnictwo Naftowe i Gazownictwo S.A. is the leading Polish produce of natural gas. Net sales break down by activity as follows: - trading and storage of natural gas (77.1%); - distribution of natural gas (10.7%); - exploration and production of hydrocarbons (8%); - production of electricity and heating (3.8%); - other (0.4%). Poland accounts for 85.5% of net sales.

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