Current report no.: 42/2015

Disbursement of funds from a credit facility agreement

Current report no.: 42/2015 

Date of report: 2015-11-25

Subject: Disbursement of funds from a credit facility agreement

Text of the report:

The Management Board of CIECH S.A. (“the Company”, “the Issuer”), as supplementation to current report no. 38/2015 of 30 October 2015 regarding the conclusion of a credit facility agreement and the granting of guarantees by the subsidiaries of the Issuer (“the Credit Facility Agreement”), announces that on 25 November 2015, disbursement took place of two-currency fixed-term credit granted by Bank Handlowy w Warszawie S.A., Bank Millennium S.A., Bank Zachodni WBK S.A., Credit Agricole Bank Polska S.A., HSBC Bank Polska S.A., Industrial and Commercial Bank of China (Europe) S.A. (joint-stock company) Branch in Poland and Powszechna Kasa Oszczędności Bank Polski S.A. The amount of disbursement: PLN 1,045,031,446.54 and EUR 69,673,222.19 (“Credit”). 

The Issuer is planning to allocate a part of the funds originating from the disbursement under the Credit (after partial currency conversion under security transactions), to the amount of EUR 263,426,041.58, for early redemption of secured debentures to the face value of EUR 245,000,000, issued by Ciech Group Financing AB (publ) on 28 November 2012, according to the text of current report no. 40/2015 of 30 October 2015. 

The criterion for considering the Agreement to be a significant agreement: The Loans Agreement is a significant agreement because a total maximum value of the loans exceeds 10% of the value of revenues on sale of the capital group of the Issuer for a period of the last four financial quarters.

Signatures of the Company's representatives:

Maciej Tybura – President of the Management Board

Artur Osuchowski – Member of the Management Board

Do góry