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Tauron PE SATauron power has PLN 900 mln syndicated loan agreement with PKO BP and ICBC
Listed power utility Tauron has signed a PLN 900 million syndicated loan agreement with Poland's largest lender by assets PKO BP and Industrial and Commercial Bank of China (Europe), the company said in a market filing. The loan proceeds will be used to finance or refinance RES expenditures.
According to the agreement, Tauron will be able to use the funds once the suspensive conditions standard for this type of financing have been met.
The loan will be repaid within five years from the date of the agreement, although the repayment term may be extended to a maximum of seven years.
The interest rate on the funds made available under the loan agreement will be calculated on the basis of a variable interest rate appropriate for the interest period in question, plus a margin depending on the fulfilment of the sustainability indicators, i.e. the carbon reduction rate and the rate of increasing the share of renewable energy sources in the group's generation structure.
An independent auditor will confirm the correctness of the calculation of the sustainability indicators.
mcb/ han/
