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CR#38_2014 Orange Polska takes advantage of the Orange SA funding

Pursuant to art. 56, clause 1, item 1 of the Law of July 29, 2005 on public offering and the conditions for introducing financial instruments to the organized trading system and on public companies (Journal of Laws of 2005, No. 184, item 1539 with amendments), the Management Board of Orange Polska S.A. (“Orange Polska”, the “Company”) informs about the decision to conclude agreements for financing.

Orange Polska takes advantage of the Orange SA funding in order to refinance Eurobonds maturing May 2014, and reduce its cost of financing

May 7, 2014: Orange Polska’s Supervisory Board expressed its positive opinion concerning the conclusion of a financing agreement with Orange SA or its subsidiary. Under this agreement the Company will receive a PLN 2 billion (EUR 480 million) loan denominated in EUR, with a 5 year maturity.
The Supervisory Board also expressed its positive opinion on a EUR 230 million increase of the existing Revolving Credit Facility Agreement between Orange Polska and Atlas Services Belgium SA (100% Orange SA subsidiary) and its prolongation till the year 2018.
The purpose of these agreements is to refinance the euro medium term notes in the nominal amount of EUR 700 million, maturing on May 22, 2014. This will enable Orange Polska to optimize its financial costs; as of today the cost of the new financing will amount in average to 4,2% yearly, including the cost of hedging.
Orange SA is a shareholder of Orange Polska, holding a 50.67% stake in Orange Polska, which corresponds to 50.67% of the total voting power on AGM of the Company.

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