The Management Board of the company under the name of Polenergia S.A. (the “Issuer” or “Company”) hereby announces that on December 18, 2024, the Company concluded a loan agreement with Bank Gospodarstwa Krajowego (“BGK”) under the National Plan for Reconstruction and Increasing Resilience as part of Investment G3.1.5 “Construction of offshore wind farms” (the “Agreement”), under which BGK granted the Company a loan of up to PLN 750.000.000,00 (the “Loan”).
The Loan may be used by the Company solely for the purpose of financing or refinancing eligible costs of the Bałtyk 2 and Bałtyk 3 offshore wind farm projects (“Projects“): (i) including, among others, expenses related to the offshore part of the Projects, (ii) excluding VAT, financial costs and incurred before 1 February 2022.
The Company will use the funds obtained from the Loan solely to make or secure cash contributions to the Projects.
The Loan will be made available for use from the date of fulfillment of the standard conditions precedent for bank financing specified in the Agreement.
The final repayment date of the Loan falls on the earlier of the following dates: (a) the date falling 5 (five) years from the date of the first disbursement of the Loan; or (b) January 30, 2030, whereby the Loan may be used no later than June 30, 2025.
The interest rate on the Loan will be calculated on the basis of a variable interest rate based on the appropriate WIBOR rate increased by a margin.
The loan will be granted on market terms and will not constitute public aid.
The Issuer’s Management Board also informs that the Loan is not secured on any asset of the Company or the Polenergia Group.
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 European Union, L. of 2014, No. 173, p. 1, as amended)
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