24.11.2015 15:50

​The Management Board of TAURON Polska Energia S.A. ('Company') informs that on 24 November 2015 the Company and Bank Handlowy w Warszawie S.A., Bank of Tokyo-Mitsubishi UFJ (Holland) BV, Bank of Tokyo-Mitsubishi UFJ (Polska) S.A., Bank Zachodni WBK S.A., CaixaBank S.A. Oddział w Polsce, Industrial and Commercial Bank of China (Europe) S.A. Oddział w Polsce, ING Bank Śląski S.A. and Powszechna Kasa Oszczędności Bank Polski S.A. signed the following agreements: agency agreement, depository agreement and underwriting agreement, under which a bond issue program ('Program') has been established worth PLN 6.27 billion in total.

The funds that will be obtained from bond issue under the Program will be used to cover expenses related to execution of TAURON Group's investment program, debt refinancing or to finance Group's general corporate expenses. The Program's value might be increased up to PLN 6.5 billion.

As part of the Program, the Company may organize multiple bond issues within the period until 31 December 2020. The bonds will be uncollateralized, coupon, bearer securities, with floating interest rate, nominal value of PLN 100 thousand each and maturity of 1, 3, 6, 12, 24, 36, 48 or 58 months.

The bonds will be underwritten, i.e. Program Underwriters (banks that are parties to the underwriting agreement) will be obliged to purchase the bonds issued by the Company under the Program.

To enable transfer of funds under the bond issue, TAURON should repurchase the bonds from B tranche (PLN 300 million) issued under the existing bond issue program signed in December 2010 and each Underwriter should be provided with standard documents including: execution statement for the amount up to 120% of the total nominal value of the bonds that the Underwriter is obliged to purchase under the Program, original version of Terms and Conditions of the Issue signed by the Company, copy of resolution of the Company's Management Board granting approval for signing the agreements under the Program and bond issue, legal opinions of the Company's legal advisors and the Underwriters' legal advisors issued in connection with signing the Program, and the Company's documents under the Articles of Association.

The reason for considering the abovementioned agreements as material is the fact that the value of the Program exceeds 10% of Issuers equity.

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