22/2020 POL: CONCLUSION OF CREDIT AGREEMENT FOR THE KOSTOMŁOTY WIND FARM PROJECT

2020-09-30

The Management Board of Polenergia S.A. ('Issuer') hereby reports that on 30 September 2020, the Issuer's subsidiary, Polenergia Farma Wiatrowa Dębice/ Kostomłoty Spółka z ograniczoną odpowiedzialnością ('Wind Farm') as the borrower, and mBank S.A. as the lender ('Lender') concluded a credit agreement ('Credit Agreement').
Pursuant to the Credit Agreement, the Lender shall grant an investment credit to the Wind Farm in the total amount up to PLN 125,000,000.00 to finance the Kostomłoty wind farm construction and VAT credit during the construction period in the amount of PLN 25,000,000.00. 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 1 September 2037 and VAT credit not later than by 30 June 2023. The interest on credit is equal to WIBOR increased by the bank's 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).

‹ go back