ORLEN Group secures EUR 2 billion credit facility
ORLEN has entered into a EUR 2 billion credit facility agreement with a syndicate of 16 banks, ensuring the Group has access to financing for its ongoing business requirements. This revolving credit facility replaces the previous agreement and will be utilised to support the Group’s day-to-day trading and operating needs.
“The renewable structure of this credit line will allow us to optimally manage the Group’s liquidity, thereby supporting the effective management of our day-to-day operations. Our relationship with a syndicate of 16 Polish and international banks reflects the strong confidence in the ORLEN Group, reaffirming our reputation as a reliable and stable business partner,” says Magdalena Bartoś, Vice President of the ORLEN Management Board, Chief Financial Officer.
The EUR 2 billion dual-currency facility, available in both the euro and US dollar, has a five-year term plus two one-year extension options (structured as 5+1+1). The drawdowns will be used to finance the ORLEN Group’s day-to-day operations.
ORLEN’s highest ever credit ratings have been reaffirmed at A3 by Moody’s Investors Service and BBB+ by Fitch Ratings. In addition, the Group is entrenching its status as a reliable dividend payer. On 20 December this year, ORLEN will distribute profits to its Shareholders for the 12th consecutive time.
