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Current Report No. 29/2019

  Investors Relations Contract Loan

Execution of a financing agreement

Body of the report:

With reference to Report No. 1/2019, the Management Board of Jastrzębska Spółka Węglowa S.A. (“JSW”, “Company”) hereby reports that on 9 April 2019 a financing agreement (“Agreement”) was entered into by and between JSW and Agencja Rozwoju Przemysłu S.A., Bank Gospodarstwa Krajowego, Bank Polska Kasa Opieki S.A., Powszechna Kasa Oszczędności Bank Polski S.A. and ICBC (Europe) S.A. Branch in Poland (“Consortium”).

The financing is guaranteed by JSW’s subsidiary JSW KOKS S.A.

The financing was granted in the form of a revolving loan facility in the amount of PLN 360 million, term loan in the amount of PLN 100 million and term loan facilities in the USD equivalent of PLN 300 million.

The financing is planned for a maximum term of 7 years, however the financing in the form of the revolving loan has been set for 5 years with the possibility of extending it by up to 2 years.

The beneficiary of the facility plans to earmark the funds among other things for: financing JSW Group’s investments, financing JSW Group’s other general corporate needs and financing the acquisition, by the Company, of a 95.01% stake in a company under the name Przedsiębiorstwo Budowy Szybów S.A.

The financing will be secured by the collaterals described in § 1 of Resolution no. 4 of the Company’s Extraordinary Shareholder Meeting, which the Company reported in Current Report No. 27/2019.

Legal basis: Article 17 Section 1 of Regulation (EU) No. 596/2014 of the European Parliament and of the Council of 16 April 2014 on Market Abuse and Repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC.

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