The Management Board of the company under the name of Polenergia S.A. (the “Issuer”) hereby informs that on 18 February 2025, the Issuer concluded with Bank Polska Kasa Opieki S.A. and BNP Paribas Bank Polska S.A. (the “Granting Banks”) a guarantee line agreement with a limit of up to EUR 125,000,000 (the “Guarantee Line Agreement”).
The Guarantee Line Agreement provides that the guarantees granted thereunder may secure the Issuer’s obligations to contribute funds to the Bałtyk 2 and Bałtyk 3 offshore wind farm projects (the “Projects”).
The contractual provisions do not differ from the market terms commonly used for this type of agreement. Bank guarantees may be issued for a period until March 31, 2029, and then, on the terms specified in the Guarantee Line Agreement, their validity period may be extended to March 31, 2030. The period of availability of the limit made available under the Guarantee Line Agreement expires on August 31, 2025.
The Guarantee Line Agreement provides for the obligation to meet standard conditions precedent for the issuance of bank guarantees in this type of transaction.
For the issuance of bank guarantees under the Guarantee Line Agreement, the Issuer will incur one-off fees, and then periodic fees for maintaining them.
In connection with the Guarantee Line Agreement, the Issuer will submit to the Granting Banks declarations of submission to enforcement. The claims of the Granting Banks will not be secured on the Issuer’s assets. In addition, the Guarantee Line Agreement provides that the claims of the Granting Banks against the Issuer in the event of activation of bank guarantees issued under the Guarantee Line Agreement will be secured by corporate guarantees granted by the main shareholders of the Issuer, i.e. BIF IV Europe Holdings Limited and Mansa Investments sp. z o.o.
Legal basis: Article 17 section 1 of the Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC (Journal of Laws of the EU. L. of 2014, No. 173, p. 1, as amended).
The Management Board of the Company
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