The Management Board of Grupa LOTOS S.A. (“Grupa LOTOS S.A.” or the “Company”) announces that on November 18th 2015 Grupa LOTOS S.A. and a syndicate of six banks, comprising:
- BANK POLSKA KASA OPIEKI S.A. of Warsaw,
- MBANK S.A. of Warsaw,
- ING BANK ŚLĄSKI S.A. of Katowice,
- SOCIETE GENERALE of Paris,
- BANK HANDLOWY W WARSZAWIE S.A. of Warsaw, and
- BANK ZACHODNI WBK S.A. of Wrocław,
signed an annex amending the credit facility agreement for refinancing and financing of Grupa LOTOS S.A.’s inventories, made on October 10th 2012 (see: the Company’s Current Reports No. 32/2012 of October 10th 2012 and No. 35/2012 of October 31st 2012), as amended (see: the Company’s Current Reports No. 27/2013 of November 7th 2013, No. 28/2013 of November 28th 2013 and No. 24/2014 of October 29th 2014).
The agreement provides for a revolving credit facility of USD 400m (PLN 1 592m
as translated at the mid-rate quoted by the National Bank of Poland for November 18th 2015).
The amendment was signed pursuant to the provisions of the credit facility agreement
of October 10th 2012 which stipulate that the lending period may be extended by 12-month periods.
The amendment extends the lending period until December 20th 2016, permits more flexible use of the credit facility and adjusts its financial terms to current market conditions.
The terms and conditions of the amendment do not differ materially from the terms
and conditions commonly applied in agreements of such type. The amendment contains
no conditions precedent to its entry into force and does not provide for any contractual penalties.
The other terms and conditions of the credit facility agreement of October 10th 2012 were not amended.
The credit facility agreement of October 10th 2012 is considered significant as its value exceeds 10% of Grupa LOTOS S.A.’s equity.
The legal basis for the publication of this Current Report is Par. 5.1.3 of the Minister of Finance’s Regulation on current and periodic information to be published by issuers of securities
and conditions for recognition as equivalent of information whose disclosure is required
under the laws of a non-member state, dated February 19th 2009.