CIECH SA's repayment of loans granted to the Company and its subsidiaries as well as early buyout of bonds

Current report no : 64/2012
Report date : 12/7/2012
Abbreviated name : Ciech SA
Subject : CIECH SA's repayment of loans granted to the Company and its subsidiaries as well as early buyout of bonds
Legal basis : Article 56 section 1 item 2 of the Act on the Offering - current and interim information 


The Management Board of Ciech SA, acting pursuant to Article 56 section 1 item 1 of the Act of July 29th, 2005 on Public Offering and the Conditions for Introducing Financial Instruments to Organised Trading and on Public Companies, reports that the funds raised by Ciech SA as a result of:
(i) issuing, on December 5th, 2012, secured bearer bonds governed by the Polish law to the amount of PLN 320,000,000 (see current report no. 62/2012) ("Polish Bonds"); and
(ii) issuing unsecured registered intra-group bonds to the amount of EUR 245,000,000, which were acquired by Ciech Group Financing AB (Publ), a wholly-owned subsidiary of Ciech SA ("Issuer of Foreign Bonds") (see current report no. 63/2012), in return for funds raised from the issue by the Issuer of Foreign Bonds of secured bonds governed by the law of the state of New York with the maturity date in 2019 up to the amount of EUR 245,000,000 (see current report no. 60/2012), were on December 6th, 2012 earmarked by Ciech SA and other relevant companies from Ciech SA Group for:
(i) repaying loans granted to, among others, Ciech SA on the basis of a loan agreement of February 10th, 2011 between Ciech SA as the borrower and its subsidiaries as guarantors (Janikowskie Zakłady Sodowe Janikosoda S.A., Inowrocławskie Zakłady Chemiczne Soda Mątwy S.A., Soda Polska Ciech sp. z o.o., Zakłady Chemiczne Alwernia S.A., Przedsiębiorstwo Chemiczne Cheman S.A., Zakłady Chemiczne Organika Sarzyna S.A., Polfa sp. z o.o., Vitrosilicon S.A., Transclean sp. z o.o. as well as Zakłady Chemiczne Zachem S.A.) and Bank DnB Nord Polska S.A., Bank Handlowy w Warszawie S.A., Bank Millennium S.A., Bank Polska Kasa Opieki S.A., BRE Bank S.A., ING Bank Śląski S.A. and Powszechna Kasa Oszczędności Bank Polski S.A., regarding refinancing of the financial debt of the Ciech Group resulting from the Loan Agreement of April 26th, 2010 (see current report no. 12/2011);
(ii) repaying loans granted under the loan agreement of January 23rd, 2008 of EUR 75,000,000 concluded between Soda Deutschland Ciech GmbH, Sodawerk Stassfurt GmbH & Co. KG ("SWS KG") and Sodawerk Stassfurt Holding GmbH and COMMERZBANK Aktiengesellschaft, the objective of which was to refinance the current bank debt of SWS KG and finance growth investments of SWS KG ("Commerzbank Loan Agreement") (see current report no. 6/2008) (the repayment of loans granted under the Commerzbank Loan Agreement fulfilled the condition precedent of granting by Soda Deutschland Ciech GmbH, Sodawerk Holding Staßfurt GmbH, Sodawerk Staßfurt Verwaltungs-GmbH and Sodawerk Staßfurt GmbH & Co. KG guarantees of repayment of liabilities of Ciech SA with respect to the bondholders of Polish Bonds); and
(iii) early buyout (Ciech SA will report on the early buyout in a separate report) of bearer bonds of the total value of PLN 285,000,000 that were issued by Ciech SA on December 14th, 2007 (see current report no. 76/2007).
Signatures of the Company's representatives : Andrzej Kopeć – Member of the Management Board

Signatures of the Company’s Representatives : Artur Osuchowski – Member of the Management Board

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