Current Report No. 28/2019

Belongs to:

  • Reports

Subject: Agreement for a ESG-linked revolving credit facility

Date: 17 September 2019

Legal basis: Article 17 (1) of MAR - inside information

The Management Board of ENERGA SA (“the Company”) reports that today the Company has entered into a ESG-linked revolving credit facility agreement (“the Agreement”) with a consortium of the banks: Santander Bank Polska S.A. with registered office in Warsaw (Credit Coordinator, Agent, Agent ESG), Bank Gospodarstwa Krajowego with registered office in Warsaw, Powszechna Kasa Oszczędności Bank Polski SA with registered office in Warsaw, Caixabank SA (Spółka Akcyjna) Oddział w Polsce with registered office in Warsaw, MUFG Bank (Europe) N.V. with registered office in Amsterdam. The purpose of the Agreement is to grant the Company a PLN 2 billion ESG-linked revolving credit facility (“the Facility”). The facility is intended, among others, for the development of renewable generation capacity and further modernisation of power lines, and will also be partially used to repay previous debts related to these purposes. The Facility has been granted on the condition that the funds must be used for purposes not related to coal-fired power generation. The Facility has been made available for 5 years starting from the signing date, with two possible extensions of 1 year each. The interest rate for the Facility has been set on market terms based on the WIBOR rate plus margin. The Company has committed to achieve an ESG (Environmental, Social, Governance) rating, whose level may determine the margin. The Facility is unsecured.

The Agreement contains conditions precedent that are typical for such financing and have to be satisfied in order to disburse the Facility.

The remaining provisions of the Agreement do not depart from those commonly used in agreements of this type.

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