PKN ORLEN SA - PKN ORLEN Series E bond issue terms and conditions

PKN ORLEN Series E bond issue terms and conditions

Regulatory announcement no 105/2014 dated 1 April 2014

Polski Koncern Naftowy ORLEN S.A. ("PKN ORLEN") hereby informs about issue of the next series of bonds within the public bond issue programme, included in the prospectus approved by the Polish Financial Supervision Authority on 24 May 2013 ("Programme") and announces the final terms and conditions of the offer and the final terms and conditions of issue for this series of the bonds.The bonds will be offered in a public offering.

In Series E will be offered 2 000 000 unsecured, bearer, dematerialized bonds through registration in the deposit operated by the Central Securities Depository of Poland ("KDPW"). Unit nominal value of the bond will amount to PLN 100. Interest will be calculated daily starting on the first day of sales, i.e. unit issue price of the bond, taking into account increasing interest, increases in the order period from PLN 100,00 to PLN 100,14. The total nominal value of Series E bonds will amount up to PLN 200 000 000 (in words: two hundred million zlotys).

The bonds interest rate will be variable. The interest rate will be based on the sum of WIBOR 6M rate and margin set at the level of 130 basis points. The interest will be paid in the half-yearly periods. The bonds will be redeemed within 4 years.According to the latest published unconsolidated financial statement for 2013, the total value of Company's liabilities amounts to PLN 18 928 m. The outlook of the liabilities until the complete redemption of the bonds should be assessed on the basis of the information provided by PKN ORLEN as a public company according to the procedure and the rules set out in the Act on Public Offering, Conditions Governing the Introduction of Financial Instruments to Organised Trading, and Public Companies of 29 July 2005 and on the basis of the content of information documents to be published in connection with the issue of bonds.

The Final Terms and Conditions of the Offer of Series E Bonds, the Final Terms and Conditions of Issue of Series E Bonds and summary of the prospectus for Series E Bonds in Polish language version are attached hereto regulatory announcement.See also: regulatory announcement no 113/2013 dated 28 March 2013 and regulatory announcement no 127/2013 dated 9 April 2013.The only legally binding document containing information about the offer of the PKN ORLEN bonds is published Prospectus amended by annexes, available in electronic form on the Company's website www.orlen.pl in Investor Relations section. The bonds neither constitute bank deposit nor are covered by any deposit guarantee system.

More information on page: biznes.pap.pl

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