Dla inwestorów

Home > News > Current reports > 10/2010 Loan agreement - Orange Polska

10/2010 Loan agreement - 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 25 January 2010, TP S.A. concluded a revolving loan agreement (“the Agreement”) with an international syndicate of banks for a total amount of €400 million. The purpose of the Agreement is to refinance the tranche A of €550 million, which is a revolving overdraft facility that secures TP S.A.’s liquidity under a loan agreement of 18 April 2005.

The Agreement was signed for a period of three years and expires on 18 April 2013.

The loan interest is based on the EURIBOR rate for the relevant interest periods plus a bank margin.

The Agreement is not collateralised by 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 included 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 TP Group’s consolidated financial statements).

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

Top of page

Orange Polska SA* share price