Polski Koncern Naftowy ORLEN Spolka Akcyjna ("PKN ORLEN") hereby informs that in order to optimize the management of financial liquidity within the PKN ORLEN Capital Group, on 17 January 2011 PKN ORLEN issued short term bonds to its subsidiary, ORLEN Upstream Sp. z o.o. („ORLEN Upstream”). The bonds were issued in accordance with the Bond Issue Programme signedby PKN ORLEN and a syndicate of 6 banks in November 2006.
The bonds are used for managing the working capital of PKN ORLEN Capital Group.The bonds were issued in compliance with the Law on Bonds dated 29 June 1995 (unified text:Journal of Laws, 2001 No 120, point 1300 with subsequent changes) in Polish zlotys, asbearer, dematerialized, unsecured, and zero-coupon securities. The redemption of the bondswill be at their nominal value.
The bonds purchased today by ORLEN Upstream were issued by PKN ORLEN with the following issue conditions: Series: ORLEN427310111; value of the bond issue PLN 27 000 000 composed of 270 bonds with anominal value of PLN 100 000 per bond.
- Date of issue: 17 January 2011
- Redemption date: 31 January 2011
- Yield on bonds: based on market conditions, unit nominal price amounted to PLN 99 857,10.
PKN ORLEN owns 100% of the registered capital of ORLEN Upstream.
See also: regulatory announcement no 75/2006 dated 27 November 2006.