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126/2010 Agreement with a syndicate of banks - 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 loan agreement concluded by TP S.A.

On 22 October 2010, TP S.A. concluded a revolving loan agreement (“the Agreement”) with an international syndicate of banks for a total amount of PLN 2 billion. The purpose of the Agreement is to refinance the existing credit facility of PLN 2,5 billion, which secures TP S.A.’s liquidity and has been provided under a loan agreement of 20 February 2006.

The Agreement was signed for a period of five years. The loan interest is based on the WIBOR rate for the relevant interest periods plus a bank margin.

The Agreement is not collateralised 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.

Under a loan covenant contained in the Agreement, TP S.A. should meet the following financial ratio: net debt to EBIDTA not higher than 3.5 : 1 (tested on the basis of consolidated financial statements).

The Agreement is considered significant, as its amount exceeds 10% of TP S.A.’s equity.

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