ING BANK ŚLĄSKI SA Notice of Concluding a Significant Agreement

2014-08-08 Report no. 20/2014:

Notice of Concluding a Significant Agreement

The Management Board of ING Bank Śląski S.A. (the "Bank") hereby give

notice that on 08 August 2014 the Bank, along with a syndicate of other

banks, has signed an annex to the agreement covered by the current

report no. 19/2010 of 10 June 2010, as amended, with an entity from the

fuel and energy sector regarding, among other things, a change of the

term of that entity's bond issue programme until 31 July 2020, while

keeping the hitherto maximum amount of PLN 7,000,000,000.00.Pursuant

to the annex, ING Bank Śląski S.A. shall have the right to assume the

rights and obligations of one of the underwriting banks, and

consequently take up bonds up to the amount of PLN 774,000,000.00;

however, it will no longer be the Issue Agent.

The agreement is considered significant due to the total value of the

Bank's exposure to the entity which is the party to the above mentioned

annex and its subsidiaries, resulting from the agreements concluded over

the last 12 months, which exceeds 10% of the Bank's equity, upon

including the potential exposure covered by the present report.The

value of all agreements referred to above totals approximately PLN

896,000,000.00, with the potential exposure arising from the annex,

which is the subject-matter hereof, being the largest exposure in terms

of value.

The counterparty is not related to ING Bank Śląski S.A.

Legal grounds: §5 section 1 item 3) of the Ordinance of the Minister of

Finance of 19 February 2009 on current and periodical information

provided by securities issuers and conditions for recognising as

equivalent the information required by law of a non-Member State

(Journal of Laws No. 33, item 259, as amended).

More information on page: biznes.pap.pl

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