Legal basis: Art. 56.1.1 o f the Law of 29 July 2005 on Public Offering, the Conditions for Introducing Financial Instruments to the Organised System of Trading and Public Companies The report: The Management Board of Powszechna Kasa Oszczędności Bank Polski Spółka Akcyjna (the “Bank”) announces that on 21 September 2010 it adopted a resolution establishing the terms and conditions of the First Drawdown under the EMTN Programme of the Bank’s subsidiary, PKO Finance AB seated in Sweden (the “Issuer”) of which the Bank is the sole shareholder. The Issuer is, within the meaning of the Accountancy Law, a subsidiary of the Bank. The Bank announced the opening of the EMTN Programme in report No.35/2008. The basic terms and conditions of the First Drawdown under the EMTN Programme are as follows:
- Drawdown Amount: up to 800,000,000 EUR
- Drawdown Currency: Euro
- Maturity: five years
- The funds obtained from the Drawdown will be used for general financing purposes of the Bank, including liquidity purposes
- Interest: notes may be interest bearing at fixed rate
- Interest Period: 1 year
- Denomination of each note will be 50,000 EUR
- Type of issue: senior
- Listing: Luxemburg Stock Exchange
- The funds will be transferred between the Issuer and the Bank in a form of a loan, the amount of which will be equal to the amount of funds obtained from the issuance of notes. The settlements between the Issuer and the Bank will be provided by the Paying Agent through banking accounts dedicated only for purposes of the issuance of notes and with consent of the Bank.
- The Issuer will be paid accordingly to the agreement for the administration of the EMTN Programme.
Detailed information on the loan agreement between the Bank and the Issuer required under the applicable regulations will be published upon the occurrence of the relevant event.