Current Report No.: 33/2014
Current Report No.: 33/2014
Date of preparation: 28.11.2014
Short name of issuer: ENEA S.A.
Title: Information on ENEA S.A.'s acquisition of bonds issued by ENEA Wytwarzanie S.A.
Legal basis: Article 56 item 1(2) of the Act on Offerings - current and periodic information
Content of report:
The Management Board of ENEA S.A. (Issuer) informs that in relation to the purchase by the Issuer on 28 November 2014 of the first series of bonds of the nominal value of PLN 350 mln (Bonds) issued by ENEA Wytwarzanie S.A. (ENEA Wytwarzanie) as part of the programme agreement relating to the issue of straight bonds valued PLN 760 mln (Programme) concluded on 17 November 2014 between ENEA S.A. and ENEA Wytwarzanie S.A., the total nominal value of intergroup bonds issued by ENEA Wytwarzanie and purchased by ENEA S.A. from 19 April 2014 (when the Issuer published the current report No. 20/2014 regarding bonds issued by ENEA Wytwarzanie) to 28 November 2014 exceeded the threshold of 10% equity of ENEA S.A. and amounted to PLN 1,320 mln.
The highest value transaction was the one performed on 28 November 2014 relating to the purchase by ENEA S.A. of Bonds issued by ENEA Wytwarzanie, which is mentioned above. The redemption date of the above Bonds is March 2020. The bonds are registered and demarterialised and they were issued at issue price equal to their nominal value. The interest rate of the Bonds is floating and determined annually based on WIBOR 6M rate plus a fixed margin. The Bonds bear interest from the issue date (inclusive) till the redemption date (exclusive). The Bonds were issued in accordance with the Act of 29 June 1995 on bonds, the offering was conducted under Article 9 item 3 of the Act. The Bonds were not issued via a public offering in the meaning of the Act of 29 July 2005 on Public Offerings.
At the same time, ENEA S.A. informs that the above mentioned bond issue was conducted in order to ensure funds for the investment implementation by ENEA Wytwarzanie, including financing of the power unit construction in Kozienice Power Plant and of other investment needs of ENEA Wytwarzanie, within the policy realised by ENEA S.A. regarding guaranteeing financing for capital expenditures of ENEA Capital Group companies. Due to consolidation exclusions such transactions do not affect the consolidated results of ENEA Capital Group.
10% equity was deemed by the Issuer the criterion of considering the total value of the bond purchase transaction as significant.
