ORLEN signs a credit agreement for 2 billion euros with a consortium of 16 banks, securing financing for operational activities

ORLEN has signed a credit agreement with a consortium of 16 banks, ensuring that the Group has a financing amount of 2 billion euros. The renewable credit limit that has replaced the previous agreement will be used for financial purposes for ongoing trading and operational activities.

– The renewability of the credit agreement will allow us to manage liquidity in the Group optimally, therefore managing the current activities more effectively. Cooperation with the consortium of 16 Polish and international banks indicates the high level of trust in the ORLEN Group and confirms that we are a reliable and stable partner in business – says Magdalena Bartoś, Deputy President of ORLEN for Financial Affairs.

The concluded agreement includes a loan of 2 billion euros, granted for 5 years with the possibility of a year extension twice (in the formula 5+1+1). This is a dual currency instrument, accessible in euros and dollars, which will be used to fund the ongoing activities of ORLEN Group.

ORLEN consistently maintains the highest ever ratings – A3 assigned by Moody’s Investor Service and “BBB+” assigned by Fitch Ratings Agency. It also strengthens its position as a dividend paying company. On the 20th of December, for the 12th time in a row, the company will share its profit with its shareholders.