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Execution of new facility agreement for refinancing of EFRA Project debt together with ancillary facility agreements
Report no. 42/20212021-12-28

Further to Current Report No. 22/2021 of June 14th 2021 concerning voluntary prepayment of the entire debt incurred to finance the EFRA Project by the subsidiary LOTOS Asfalt Sp. z o.o. (“LOTOS Asfalt”), Grupa LOTOS S.A. (the “Company”) announces that on December 28th 2021 LOTOS Asfalt executed:

  1. a term facility agreement (the “Facility Agreement”) with:

1)      Powszechna Kasa Oszczędności Bank Polski S.A. of Warsaw (the facility agent);

2)      ING Bank Śląski S.A. of Katowice,

3)      Bank Polska Kasa Opieki S.A. of Warsaw, and

4)      Bank Gospodarstwa Krajowego of Warsaw,

(jointly: the “Lenders”) whereby the Lenders would grant to LOTOS Asfalt Sp. z o.o. a facility of up to a total amount of PLN 400,000,000 (four hundred million złoty), intended for refinancing of LOTOS Asfalt Sp. z o.o.’s debt under the loan agreement of June 8th 2021 between LOTOS Asfalt Sp. z o.o. as the borrower and Grupa LOTOS S.A. of Gdańsk as the lender in the amount of PLN 400,000,000 (four hundred million złoty), repayable four years after the first drawdown date;

and

 ancillary facility agreements (the “Ancillary Facility Agreements”) with:

1)      Powszechna Kasa Oszczędności Bank Polski S.A. of Warsaw for up to PLN 70,000,000;

2)      ING Bank Śląski S.A. of Katowice for up to PLN 65,000,000; and

3)      Bank Polska Kasa Opieki S.A. of Warsaw for up to PLN 65,000,000

(jointly: (the “Ancillary Facility Lenders”) whereby the Ancillary Facility Lenders would grant to LOTOS Asfalt Sp. z o.o. a facility of up to the total amount of PLN 200,000,000 (two hundred million zloty) for the company’s general corporate purposes. The Ancillary Facilities may be used in the form of: (i) an overdraft limit (for one year from the agreement date) and (ii) letters of credit, guarantees and similar products for four years.

 

Security for repayment of the facilities includes mainly:

The other terms and conditions of the agreements do not differ from standard terms commonly used in agreements of this type.

 Legal basis: Article 17(1) of MAR – Inside information