33/2013
33/2013
Conclusion of an agreement with regard to bond issue programme
Current Report No. 33/2013
Date of preparation: 23 September 2013
Subject: Conclusion of an agreement with regard to bond issue programme
Legal Basis: Article 56.1.1 of the Act on Public Offering – confidential information
The Management Board of Lubelski Węgiel Bogdanka S.A. (“Company”) hereby informs you that on 23 September 2013 it concluded an agreement with regard to bond issue programme (“Agreement”) with POLSKA KASA OPIEKI SPÓŁKA AKCYJNA (“Bank”).
Under the Agreement, the Company intends to establish a bond issue programme (“Programme”) which provides for bond issue by the Company in many series, pursuant to the provisions of the Agreement, up to the amount of PLN 300,000,000, which is the maximum allowed total amount of issued and not redeemed bonds. The aim for bond issue shall be obtaining funds for financing current Company operations and satisfying its investment needs.
The Bank intends to assume the obligation to acquire the bonds issued under the Program and to act during the issue as the guarantor, the depositary, the issue agent, the paying agent and the documentation agent.
The term of the Programme begins on the day signing the Agreement and ends on 31 December 2018. Under the Programme, the Company will be entitled to issue bonds with maturities from 3 to 5 years, indicated in the terms of the bonds. The nominal value of each bond series will be no lower than PLN 25,000,000. The first issue of bonds worth PLN 150,000,000 will take place no later than on 30 September 2013. The interest rate is variable and is determined annually on the basis of WIBOR 3M, increased by a fixed margin.
The Company will establish security for the benefit of the Bank in the form of: claim assignment agreement regarding an agreement with one of the Company’s clients, a declaration of submission to enforcement pursuant to Article 777.1.5 of the Polish Code of Civil Procedure and a power of attorney to an indicated bank account of the Company.
Each issue of particular bond series will be announced by the Company in Current Reports.
Date of preparation: 23 September 2013
Subject: Conclusion of an agreement with regard to bond issue programme
Legal Basis: Article 56.1.1 of the Act on Public Offering – confidential information
The Management Board of Lubelski Węgiel Bogdanka S.A. (“Company”) hereby informs you that on 23 September 2013 it concluded an agreement with regard to bond issue programme (“Agreement”) with POLSKA KASA OPIEKI SPÓŁKA AKCYJNA (“Bank”).
Under the Agreement, the Company intends to establish a bond issue programme (“Programme”) which provides for bond issue by the Company in many series, pursuant to the provisions of the Agreement, up to the amount of PLN 300,000,000, which is the maximum allowed total amount of issued and not redeemed bonds. The aim for bond issue shall be obtaining funds for financing current Company operations and satisfying its investment needs.
The Bank intends to assume the obligation to acquire the bonds issued under the Program and to act during the issue as the guarantor, the depositary, the issue agent, the paying agent and the documentation agent.
The term of the Programme begins on the day signing the Agreement and ends on 31 December 2018. Under the Programme, the Company will be entitled to issue bonds with maturities from 3 to 5 years, indicated in the terms of the bonds. The nominal value of each bond series will be no lower than PLN 25,000,000. The first issue of bonds worth PLN 150,000,000 will take place no later than on 30 September 2013. The interest rate is variable and is determined annually on the basis of WIBOR 3M, increased by a fixed margin.
The Company will establish security for the benefit of the Bank in the form of: claim assignment agreement regarding an agreement with one of the Company’s clients, a declaration of submission to enforcement pursuant to Article 777.1.5 of the Polish Code of Civil Procedure and a power of attorney to an indicated bank account of the Company.
Each issue of particular bond series will be announced by the Company in Current Reports.