Extension of the term of a syndicated credit facility agreement

Friday, 04 December, 2020
38/2020

The Management Board of KGHM Polska Miedź S.A. (“Company”) announces that as the result of its request to the financing banks, which was announced by the Company via regulatory filing no. 31/2020 dated 27 October 2020, to extend the term of an unsecured revolving syndicated credit facility agreement in the amount of USD 1 500 million, one of the members of the syndicate did not exercise its right to extend its current participation after 20 December 2024. The aforementioned decision stems from internal regulations regarding the equity requirements of the bank.

The unsecured revolving syndicated credit facility agreement in the amount of USD 1 500 million was entered into on 20 December 2019 for a five-year tenor and has two one-year extension options exercisable at the request of KGHM Polska Miedź S.A.

As a result of the syndicate members’ decision, during the first extension, that is from 20 December 2024 to 19 December 2025, the amount of available credit facility will amount to USD 1 438 million.

The extension of the agreement represents an advancement of the Strategy of KGHM Polska Miedź S.A. with respect to ensuring long-term financial stability by, among others, basing the financing structure on long-term instruments. 

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)

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