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45/2013 TPSA concluded financing agreements with France Telecom Group - Orange Polska

Pursuant to article 5(1.3) of the Decree of the Minister of Finance of 19 February 2009 on current and periodic information disclosed by issuers of securities and conditions for recognising as equivalent information required by the laws of a non-member state (Journal of Laws of 2009, No. 33, item 259, as amended), the Management Board of Telekomunikacja Polska S.A. (“TP S.A.” or “the Company”) hereby informs about a financing agreements concluded by TP S.A.

TP S.A. entered into financing agreements with France Telecom Group described on February 28, 2013

On April 17, 2013; in accordance to the TP S.A Management Board decision described in the current report 20/2013, TP S.A. concluded with the entities belonging to the France Telecom Group the following agreements to secure the liquidity and financial needs of the Telekomunikacja Polska Group (“Group”, “Orange Polska”):

  • Revolving Credit Facility Agreement with Atlas Services Belgium SA – a wholly owned subsidiary of France Telecom SA, for up to €250 million (available in EUR and PLN) for 3 years i.e. till March 31, 2016,
  • Credit Facility Agreement with Atlas Services Belgium SA – for up to €400 million, with maturity on March 31, 2016,
  • Cash Management Treasury Agreement with France Telecom SA related to a cash-pool, enabling Orange Polska to deposit its cash surpluses on France Telecom SA account. Orange Polska will also have access to a back-up liquidity funding possibility, with headroom up to PLN 1.75 billion.
  • Agreement with France Telecom SA, allowing hedging transactions securing the foreign exchange risk related to the financing provided in Euro.   

The financial terms of the above agreements are based on market conditions. The interest of drawn amounts will be based on the Wibor or Euribor rates for the relevant interest periods plus margin specified in the agreements.

The Agreements are not collateralized by any specific assets of the Company and constitutes an equivalent liability with respect to TP S.A.’s other debt liabilities on the account of loans or securities issued.

The agreements are considered significant, because its total amount exceeds 10% of TP S.A.’s equity. France Telecom S.A. is a shareholder of TP S.A., holding a 49.79% stake in TP S.A., which corresponds to 49.79% of the total voting power. 

 

 

 

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