Current Report No.: 24/2015
Current Report No.: 24/2015
Date of preparation: 15.07.2015
Short name of issuer: Enea S.A.
Subject: Information on intergroup bonds issued by Enea Wytwarzanie sp. z o.o.
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. (Company) informs that in relation to the issue on 15 July 2015 by Enea Wytwarzanie sp. z o.o. (Enea Wytwarzanie) of another series of bonds with the nominal value of PLN 936 mln (Bonds), the total nominal value of intergroup bonds issued by Enea Wytwarzanie and purchased by Enea S.A. from 28 November 2014 (when the Company published the current report No. 33/2014 regarding the bonds issued by Enea Wytwarzanie) until 15 July 2015, exceeded the threshold of 10% of Enea S.A.'s equity and amounted to PLN 1,696 mln.
The transaction of the highest value was the one described above of 15 July 2015. The redemption date for the Bonds is July 2021. The Bonds are registered and dematarialised and were issued at the issue price equal to their nominal value. The interest rate of the Bonds is floating and determined annually based on WIBOR 3M rate plus a fixed margin. The Bonds bear interest from the issue date (inclusive) until the redemption date (exclusive). The Bonds were issued in accordance with the Act of 15 January 2015 on bonds, the offering was performed under Article 33 item 2 of the Act. The Bonds were not issued as a public offer under the Act on Public Offerings and the Conditions for Introducing Financial Instruments to the Organised Trading System and on Public Companies of 29 July 2005.
At the same time, the Company informs that the Bond issue mentioned above was paid via a set-off of Enea SA.'s receivables from Enea Wytwarzanie for the redemption of bonds of the previous series issued by Enea Wytwarzanie. The Bond issue's purpose was keeping by Enea Wytwarzanie the availability of cash used for the implementation of the investments, including the financing of the construction of the B-11 power unit in Kozienice Power Plant and other investment needs of the company. Due to consolidation exclusions all the above mentioned transactions do not affect the consolidated results of Enea Capital Group.
The criterion for deeming the total value of the bond acquisition transaction significant the Company assumed 10% of equity.
