Bank BPH : Conclusion of a significant agreements

Conclusion of a significant agreements

26 September 2016

The Management Board of Bank BPH (the 'Bank' or 'BPH') announces that on 26 September 2016 the Bank concluded two credit line agreements with entities from General Electric Group ('GE Group') i.e.:

• agreement with GE Ireland USD Funding Unlimited Company with seat in Shannon, Ireland ('GEI USD') which concerns a credit line up to the amount of USD 10 000 000 (i.e. equivalent of PLN 38 324 000 based on the average NBP rate dated 26 September 2016). The agreement is concluded for the period from 26 September 2016 till 27 September 2021 and the interest rate on it is the sum of USD LIBOR and margin,
• agreement with GE Capital Irish EUR Funding IV Unlimited Company with seat in Shannon, Ireland ('GEC EUR') which concerns a credit line up to the amount of EUR 60 000 000 (i.e. equivalent of PLN 258 450 000 based on the average NBP rate dated 26 September 2016). The agreement is concluded for the period from 26 September 2016 till 27 September 2021 and the interest rate on it is the sum of EURIBOR and margin.

Terms of the above-mentioned agreements do not differ from market standards.

Furthermore, the Bank has concluded the following agreements with GE Ireland CHF Funding Unlimited Company (entity from GE Group):

• a subordinated loan in an amount of CHF 75 000 000 (i.e. equivalent of PLN 296 970 000 based on the average NBP rate dated 26 September 2016), about which Bank has reported in current report No. 26/2015 of 22 December 2015,
• a revolving credit agreement in a total amount not exceeding CHF 2 200 000 000 (i.e. equivalent of PLN 8 711 120 000 based on the average NBP rate dated 26 September 2016) about which Bank has reported in current report No. 23/2015 of 25 November 2015,
• a loan in an amount of CHF 80 000 000 (i.e. equivalent of PLN 316 768 000 based on the average NBP rate dated 26 September 2016), about which Bank has reported in current report No. 13/2015 of 1 July 2015,
• a loans in an amount CHF 2 350 000 000 (i.e. equivalent of PLN 9 305 060 000 based on the average NBP rate dated 26 September 2016) about which Bank has reported in current report No. 18/2014 of 5 September 2014,
• a loan in an amount CHF 800 000 000 (i.e. equivalent of PLN 3 167 680 000 based on the average NBP rate dated 26 September 2016) about which Bank has reported in current report No. 2/2014 of 20 January 2014.

In total, balance sheet exposure of the Bank, as of 26th September 2016, to the GE Group amounts to CHF 3.1 billion (i.e. equivalent of PLN 12,3 billion based on the average NBP rate dated 26 September 2016) and PLN 675 million.

Legal basis: Art. 17 of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC.