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11/07/2020 19:28

Current report 18/2020

In reference to current reports No. 14/2020 of 29 May 20120, No. 15/2020 of 4 June 2020 and 16/2020 of 19 June 2020, the Management Board of Polenergia S.A. (“Issuer”) hereby reports that on 10 July 2020, the Issuer’s subsidiary, Polenergia Farma Wiatrowa 3 Spółka z ograniczoną odpowiedzialnością (“Wind Farm”) as the borrower, and the European Bank for Reconstruction and Development, mBank S.A., ING Bank Śląski S.A., Santander Bank Polska S.A. as the lenders (“Lenders”) concluded a credit agreement (“Credit Agreement”).

Pursuant to the Credit Agreement, the Lenders will offer the Wind Farm an investment credit facility in the total amount up to PLN 480,000,000 to finance construction of the Dębsk Wind Farm and VAT credit in the period of construction up to PLN 73,000,000. In relation to the Credit Agreement, the Wind Farm and the Issuer as the sponsor are liable for concluding a standard set of securities applied in the project finance type transactions.

The Credit Agreement foresees repayment of the investment credit not later than by 10 June 2037, and the VAT credit facility not later than by 31 March 2023. The interest on credit is equal to WIBOR increased by the banks’ margin.

Legal basis: Art. 17(1) of Regulation of the European Parliament and Council (EU) No. 596/2014  on market abuse and repealing Directive 2003/6/EC of the European Parliament and Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC (Journal of Laws of the European Union L of 2014, No. 173, p. 1 as amended).

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