The Management Board of KGHM Polska Miedź S.A. announces than on 25 February 2019 it consented to sign an unsecured, revolving credit agreement with Bank Gospodarstwa Krajowego with a financing period of up to 84 months, as a renewable credit line in the amount of USD 450 million for a period of 60 months, with the option to transform it into a non-renewable credit after 60 months.
Each repayment of the credit made during the availability period, that is until 60 months from the date of signing the credit agreement, will renew the available credit limit. Beginning from the first day after the period of 60 months from the date of signing the credit agreement has elapsed, the credit will be transformed into a non-renewable credit to be repaid in four equal, semi-annual principal instalments. Every repayment of a principal instalment will decrease the amount of credit until the credit is fully repaid.
Pursuant to the terms of the agreement, the credit may be drawn in USD. The financial resources acquired from the credit will be used to finance general corporate purposes. Interest on the credit was set based on LIBOR plus a margin, depending on the level of the financial ratio of net debt/EBITDA. Other credit terms are standard terms for these types of transactions.
Furthermore, the Management Board of KGHM Polska Miedź S.A. announces that it plans to sign the agreement on 27 February 2019. If the agreement is not signed on 27 February 2019, the Company will announce this fact in a separate regulatory filing.
Legal basis: Art. 17 (1) of MAR (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 (Official Journal of the European Union dated 12 June 2014, no. L 173/1)