PKN ORLEN SA Eurobonds issue within the ORLEN Capital Group

Eurobonds issue within the ORLEN Capital Group

Regulatory announcement no 224/2014 dated 30 June 2014

Polski Koncern Naftowy ORLEN Spolka Akcyjna ("PKN ORLEN", "Company") hereby informs that on 30 June 2014 ORLEN Capital AB issued eurobonds ("Eurobonds"), guaranteed by PKN ORLEN. The value of issue amounts to EUR 500 m (i.e. PLN 2 080 m), maturity date of Eurobonds is 30 June 2021 and interest paid annually amounts to 2,5%. Eurobonds were assigned with credit ratings: from Fitch Ratings Ltd. at the level of BBB- and from Moody's Investor Service at the level of Baa3.

ORLEN Capital AB will re-borrow to PKN ORLEN the financial resources gained from the issue.Joint Lead Managers of the Eurobonds issue are: Banco Santander S.A., BNP Paribas, HSBC Bank plc, UniCredit Bank AG, Mitsubishi UFJ Securities International plc and The Royal Bank of Scotland plc, and Citibank, N.A. London Branch acts as fiscal agent and principal paying agent.

In relation to the above on 30 June 2014 PKN ORLEN signed a guarantee agreement ("Guarantee") to secure the forthcoming obligations of ORLEN Capital AB connected with Eurobonds issue.Financial conditions of the Guarantee are as follows:- the Gauarantee will cover the total value of the issue but not higher than EUR 1 000 (i.e. PLN 4 161 m)- the Guarantee is valid by the date of Eurobonds maturity and- the payment for Guarantee will be included in the interest rates of the borrowing to PKN ORLEN.The amount in PLN has been calculated based on the average PLN/EUR exchange rate as of 30 June 2014, as stated by the National Bank of Poland.PKN ORLEN holds 100% of shares in Orlen Capital AB.

See also regulatory announcement no 175/2014 dated 20 May 2014.

More information on page: biznes.pap.pl

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