Today, Grupa LOTOS S.A. has executed a credit facility agreement with a syndicate of five banks, intended to refinance an existing credit facility contracted to finance the Company’s mandatory stocks.
General
Today, Grupa LOTOS S.A. has executed a credit facility agreement with a syndicate of five banks, intended to refinance an existing credit facility contracted to finance the Company’s mandatory stocks.
The agreement provides for a revolving credit facility of USD 400m. The lending period is one year, starting from December 20th 2012, with an option to extend it for subsequent 12-month periods.
The bank syndicate comprises Bank Pekao SA, BRE Bank, ING Bank Śląski, Nordea Bank and Societe Generale.
“The agreement signed today will help us meet our financing needs related to the obligation to maintain mandatory stocks,” explains Mariusz Machajewski, Vice-President of the Management Board and CFO of Grupa LOTOS S.A. “We are pleased to be able to continue our relationship with proven partners from the banking sector”.
The agreement will enter into force once it is approved by the Supervisory Board of Grupa LOTOS S.A.
“The financing instrument was selected after a thorough analysis of the market. It is currently the most cost effective financing solution for LOTOS,” sums up Mariusz Machajewski.
The document signed today has superseded the agreement executed on December 20th 2007 with the bank syndicate comprising Bank Pekao SA, PKO BP, BRE Bank and Nordea Bank Polska.
Information Office, Grupa LOTOS S.A., ul. Elbląska 135, 80-718 Gdańsk, Poland, tel. (+48) 58 308 87 31, (+48) 58 308 83 88, e-mail: media@grupalotos.pl
