Poland's third-biggest integrated power group Enea and its subsidiary Enea Operator have signed a programme agreement with Nordea Bank Polska relating to the bond issue programme up to the amount of PLN 1,425mn (EUR 327mn). The bond issue proceeds are designed to help finance Enea Operator's investment scheme.
The bond issue programme will be valid till Oct 19 of 2029, while the programme availability period within which bond issues will be performed expires on Oct 18 of 2014. The papers may be issued in no more than 10 series, while the nominal value of each series will not be lower than PLN 100mn, excluding the 6th series and the last series of Bonds, whose value will be determined separately by the issuer (Enea Operator) and guarantor (Enea). The interest rate of the bonds may be fixed or floating.
Last week, Enea concluded a financial agreement with the European Investment Bank (EIB) providing for the granting of the loan to Enea in the amount of PLN 475mn (EUR 111mn).
The funds gained from both financial facilities will be designated for the funding of a multiannual investment plan in order to modernise and extend the power network of Enea Operator located in North-Western Poland. The total cost of the programme is estimated at around PLN 3,275.87mn.
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