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Legal basis:
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Content of the Report:
The Management Board of Powszechna Kasa Oszczędności Bank Polski Spółka Akcyjna (the “Bank”) announces that on 18 September 2012 it adopted a resolution approving an issue by PKO Finance AB (the “Issuer”) of USD-denominated bonds to be issued on the basis of documentation applicable on the debt market in the United States, pursuant to Rule 144A issued under the U.S. Securities Act for the sole purpose of financing a loan granted by the Issuer to the Bank (the “USD Issue”).
Below the Bank provides basic information on the planned USD Issue:
1) size of the issue: up to USD 1,000,000,000 (one billion United States dollars)
2) bond type: “senior” bonds (unsubordinated)
3) bond form: “Bearer Notes”
4) place of listing: the Luxembourg Stock Exchange
5) use of proceeds: for the sole purpose of financing a USD loan granted by the Issuer to the Bank under a senior loan agreement
6) unit par value: USD 100,000 (one hundred thousand United States dollars)
7) interest: fixed, consist of the MS base rate,
increased by the margin determined in the bookbuilding process
8) coupon date: 1 year
9) maturity period of bonds: 10 years
10) redemption of bonds: at a price equal to the par value
At the same time, the Management Board of the Bank announces that it has granted its consent to conclude, by the Bank, as the borrower, with the Issuer, as the lender, a senior loan agreement, under which the Issuer will lend to the Bank the proceeds of the USD Issue (the “USD Loan Agreement”).
The Bank will inform in a separate current report about the signing of the USD Loan Agreement and its detailed terms and conditions.