| Summary of PKN ORLEN Series E bond offer and the public bond issue programme
Regulatory announcement no 87/2018 dated 27 June 2018
PKN ORLEN S.A. ("PKN ORLEN") hereby informs about the results of series E bonds offer (“Bonds”), issued within the public bond issue programme (“Programme”), included in the prospectus approved by the Polish Financial Supervision Authority on 20 July 2017, as well as about the estimated costs of the Programme.
The subscriptions of 2 000 000 offered Bonds were conducted from 18 June 2018 to 25 June 2018. The offer was not divided into tranches. The allocation of the Bonds was made on 27 June 2018.
During the subscription period 1 245 investors made subscriptions on 2 102 907 Bonds. PKN ORLEN allocated 2 000 000 Bonds to 1 230 investors. In accordance with the provisions of the prospectus PKN ORLEN reduced subscriptions made between 22 June 2018 (inclusive) and 25 June 2018 (inclusive). The average reduction rate amounted to 68,42%.
The Bonds were acquired at issue price amounted from PLN 100,00 to PLN 100,06 depending on the day of subscription.
No underwriting agreement was signed by PKN ORLEN in connection with the offer of the Bonds.
The value of the issue, defined as the number of Bonds which were offered multiplied by the issue price, amounted to PLN 200 010 423,85.
The costs of the Programme are estimated at ca. PLN 0,14 per bond p.a. or ca. PLN 5,5 m in total for the entire Programme. Under the Programme five issues including 2 000 000 of Series A bonds, 2 000 000 of Series B bonds, 2 000 000 of Series C bonds, 2 000 000 of Series D bonds, and 2 000 000 of Series E bonds were conducted.
Due to lack of final settlement of the costs of the Programme as of the date of this report, the total costs of the Programme were estimated according to the best knowledge of the Company. PKN ORLEN will prepare and publish a regulatory announcement regarding the final costs of the Programme, including costs by type, together with the methods of calculation and presentation in the financial statement as well as average cost of the offer per one offered bond, after receipt and acceptance of all invoices from the entities involved in preparing and conduction of the Programme.
PKN ORLEN costs related to the bonds offer will be charged to PKN ORLEN operating costs.
See also: regulatory announcement no 78/2018 dated 25 June 2018, regulatory announcement no 71/2018 dated 13 June 2018 and regulatory announcement no 70/2018 dated 12 June 2018.
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