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ENEA concluded loan agreement with EIB

ENEA S.A. has concluded a 15-year Loan Agreement with the European Investment Bank (EIB) today. The value of the agreement is PLN 950 million. The funds gained from the loan will be designated for the funding of the tasks of a multiannual investment plan in order to modernise and extend the power grids of ENEA Operator Sp. z o.o. located in north-western Poland.

"The Agreement with the European Investment Bank for the ENEA Capital Group is an element, just after the 10-year National Bond Issue Programme, which brings us closer to the strategic goal which we set, i.e. ensuring of a long-term funding of the full investment programme of ENEA till 2022." - says Hubert Rozpędek, Vice-President of the Board for Economic Issues in ENEA S.A.

"After the completion of this project ENEA has a chance to be the first Capital Group in Poland, which will have a comfort for the upcoming 10 years within searching investment funding, with an extraordinarily difficult capital market which we presently face in the world."

The loan repayment period is up to 15 years from the payment date of the funds. The loan availability period is 24 months of the execution of the Agreement.

The loan will be used in maximum 6 tranches. The loan interest rate is given annually and may be flat or floating.               

In the case of the floating rate interest it is based on the WIBOR rate and a fixed spread determined by the Bank, containing a margin specified in the Agreement.

The funds gained from the Agreement, the value of which is almost 10 per cent of the Issuer's equity, will constitute a significant funding source for investments planned within the ENEA Capital Group.

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