ORL0730 — ORLEN bonds: terms and documents — obligacje.io

ORLEN· ORL0730

corporate · EUR

Current coupon: 4.75%
Maturity: Jul 13, 2030
Catalog nominal (per-note value unverified): €100,000
Accrued interest: No value available from the official source

The current coupon is the rate for the current period according to available data. The benchmark and margin formula comes from issue documents; it does not confirm the current fixing or a conditional margin.

Parameters

ISIN: XS2647371843
Current coupon: 4.75%
Maturity: Jul 13, 2030
Catalog nominal (per-note value unverified): €100,000
Accrued interest: No value available from the official source
Type: corporate
Market: GPW RR
Coupon: fixed
Outstanding: €500,000,000
Issue date: —
Authorization date: Aug 4, 2023
First listing: Aug 4, 2023

Bond price · ORL0730

Chart provided by TradingView. Data availability depends on provider coverage for this series.

Key information

Prepared with AI — errors or omissions are possible. Check the sources.

When is interest paid?

Contractual interest payments for series B fall annually on 13 July, starting on 13 July 2024. If a payment date is not a Payment Day, the programme terms defer payment to the next Payment Day without additional interest solely for that deferral.

Sources and quotations (4)

orlen-seria-b.pdf · p. 3Quotation in the document’s original language

(b) Interest Payment Dates: 13 July in each year, from and including 13 July 2024, up

ORLEN EMTN Offering Circular, 30 June 2023 · p. 136Quotation in the document’s original language

If the date for payment of any amount in respect of any Note, Receipt or Coupon is not a Payment

Can the issuer redeem the bonds early?

The Final Terms for series B select an ordinary issuer call option (from 13 April 2030 until before 13 July 2030) and a separate residual call option. For the latter, the programme terms require no more than 20% of the series' original nominal amount to remain outstanding and provide for redemption of all remaining notes at par plus accrued interest, with notice. Neither option establishes that it has been exercised.

The conditions and date of exercise require separate evidence; the options have different triggers and are not a single instrument.

Sources and quotations (9)

orlen-seria-b.pdf · p. 4Quotation in the document’s original language

18. Issuer Call: Applicable

orlen-seria-b.pdf · p. 4Quotation in the document’s original language

(a) Optional Redemption Any Business Day (as defined in Condition 5.2(a)) from

ORLEN EMTN Offering Circular, 30 June 2023 · p. 142Quotation in the document’s original language

If Issuer Residual Call is specified as being applicable in the applicable Final Terms and, at any time,

ORLEN EMTN Offering Circular, 30 June 2023 · p. 142Quotation in the document’s original language

the outstanding aggregate nominal amount of the Notes is 20 per cent. or less of the aggregate nominal

ORLEN EMTN Offering Circular, 30 June 2023 · p. 142Quotation in the document’s original language

Note is a Floating Rate Note), on giving not less than 30 and not more than 60 days" notice to the

ORLEN EMTN Offering Circular, 30 June 2023 · p. 142Quotation in the document’s original language

amount of the Series issued, the Notes may be redeemed at the option of the Issuer in whole, but not

ORLEN EMTN Offering Circular, 30 June 2023 · p. 142Quotation in the document’s original language

date fixed for redemption), at 100 per cent. of their nominal amount together, if appropriate, with

orlen-seria-b.pdf · p. 4Quotation in the document’s original language

21. Issuer Residual Call: Applicable

orlen-seria-b.pdf · p. 2Quotation in the document’s original language

Offering Circular dated 30 June 2023 which constitutes a base prospectus

Investor rights and protection

Can the issuer redeem the bonds early?

The conditions and date of exercise require separate evidence; the options have different triggers and are not a single instrument.

Sources and quotations (9)

orlen-seria-b.pdf · p. 4Quotation in the document’s original language

18. Issuer Call: Applicable

orlen-seria-b.pdf · p. 4Quotation in the document’s original language

(a) Optional Redemption Any Business Day (as defined in Condition 5.2(a)) from

ORLEN EMTN Offering Circular, 30 June 2023 · p. 142Quotation in the document’s original language

If Issuer Residual Call is specified as being applicable in the applicable Final Terms and, at any time,

ORLEN EMTN Offering Circular, 30 June 2023 · p. 142Quotation in the document’s original language

the outstanding aggregate nominal amount of the Notes is 20 per cent. or less of the aggregate nominal

ORLEN EMTN Offering Circular, 30 June 2023 · p. 142Quotation in the document’s original language

Note is a Floating Rate Note), on giving not less than 30 and not more than 60 days" notice to the

ORLEN EMTN Offering Circular, 30 June 2023 · p. 142Quotation in the document’s original language

amount of the Series issued, the Notes may be redeemed at the option of the Issuer in whole, but not

ORLEN EMTN Offering Circular, 30 June 2023 · p. 142Quotation in the document’s original language

date fixed for redemption), at 100 per cent. of their nominal amount together, if appropriate, with

orlen-seria-b.pdf · p. 4Quotation in the document’s original language

21. Issuer Residual Call: Applicable

orlen-seria-b.pdf · p. 2Quotation in the document’s original language

Offering Circular dated 30 June 2023 which constitutes a base prospectus

When can an investor demand early redemption?

The ordinary Investor Put does not apply to series B, but a conditional Change of Control Put is selected. The prospectus links it to a specified control event and rating conditions; the price may be 101% or 100% of nominal value depending on the conditions, plus accrued interest. It is not an unrestricted redemption right or an automatic entitlement to 101%.

Whether a qualifying change of control has occurred or which pricing conditions would be met has not been assessed.

Sources and quotations (7)

orlen-seria-b.pdf · p. 4Quotation in the document’s original language

19. Investor Put: Not Applicable

orlen-seria-b.pdf · p. 4Quotation in the document’s original language

20. Change of Control Put: Applicable

ORLEN EMTN Offering Circular, 30 June 2023 · p. 139Quotation in the document’s original language

If Change of Control Put is specified as being applicable in the applicable Final Terms, upon the

What security and repayment ranking apply?

Under the applicable prospectus, series B is an unsecured, unsubordinated obligation of the issuer, generally ranking pari passu with other unsecured obligations, subject to the exceptions in law and the terms.

The selected documents do not establish a separate executed guarantee.

Sources and quotations (3)

ORLEN EMTN Offering Circular, 30 June 2023 · p. 105Quotation in the document’s original language

The Notes and any related Receipts and Coupons are direct, unconditional, unsubordinated and

ORLEN EMTN Offering Circular, 30 June 2023 · p. 105Quotation in the document’s original language

(subject to the provisions of Condition 4) unsecured obligations of the Issuer and rank pari passu

orlen-seria-b.pdf · p. 2Quotation in the document’s original language

Offering Circular dated 30 June 2023 which constitutes a base prospectus

Which breaches give bondholders rights?

The prospectus for series B defines Events of Default, including non-payment after the contractual grace periods and other triggers. Acceleration does not follow merely from the list of risks; the conditions and applicable procedure must be met.

No current breach, insolvency or acceleration has been established.

Sources and quotations (3)

ORLEN EMTN Offering Circular, 30 June 2023 · p. 145Quotation in the document’s original language

respect of the Notes or any of them and the default continues for a period of seven days in the

ORLEN EMTN Offering Circular, 30 June 2023 · p. 145Quotation in the document’s original language

case of principal and 14 days in the case of interest; or

orlen-seria-b.pdf · p. 2Quotation in the document’s original language

Offering Circular dated 30 June 2023 which constitutes a base prospectus

Issuer and other terms

Who is the issuer?

The issuer of legal series B is ORLEN S.A. The Final Terms identify the series and its applicable dated programme prospectus.

Sources and quotations (2)

orlen-seria-b.pdf · p. 2Quotation in the document’s original language

1. Issuer ORLEN S.A.

orlen-seria-b.pdf · p. 2Quotation in the document’s original language

2. (a) Series Number: B

What are the proceeds intended for?

The Final Terms for series B refer to the prospectus's Use of Proceeds section, which specifies general corporate purposes where the Final Terms do not specify a separate purpose. This is the purpose stated in the documents, not evidence of actual expenditure.

Actual use of proceeds is outside the scope of this review.

Sources and quotations (3)

orlen-seria-b.pdf · p. 7Quotation in the document’s original language

(i) Reasons for the offer: See "Use of Proceeds" in the Offering Circular

ORLEN EMTN Offering Circular, 30 June 2023 · p. 151Quotation in the document’s original language

the Issuer for (i) its general corporate purposes, which include making a profit or (ii) any other purpose stated

orlen-seria-b.pdf · p. 2Quotation in the document’s original language

Offering Circular dated 30 June 2023 which constitutes a base prospectus

What material obligations does the issuer have?

The applicable prospectus for series B contains a negative pledge relating to specified debt and security interests, with definitions and exceptions. This concise answer does not assess the issuer's current compliance.

The scope of the exceptions must be read in the full Condition 4.2; current compliance has not been checked.

Sources and quotations (3)

ORLEN EMTN Offering Circular, 30 June 2023 · p. 106Quotation in the document’s original language

So long as any of the Notes remains outstanding, the Issuer will not, and will ensure that none of its

ORLEN EMTN Offering Circular, 30 June 2023 · p. 106Quotation in the document’s original language

Interest equally and rateably with the Relevant Indebtedness; or

orlen-seria-b.pdf · p. 2Quotation in the document’s original language

Offering Circular dated 30 June 2023 which constitutes a base prospectus

What additional terms need attention?

The Final Terms for series B prohibit sales to retail investors in the EEA and require a denomination of at least EUR 100,000. The prospectus also provides for a separate, conditional early redemption for tax reasons; this is not an additional unrestricted investor option.

Whether grounds for early redemption for tax reasons have arisen has not been assessed.

Sources and quotations (5)

orlen-seria-b.pdf · p. 1Quotation in the document’s original language

PROHIBITION OF SALES TO EEA RETAIL INVESTORS – The Notes are not intended to be offered,

orlen-seria-b.pdf · p. 1Quotation in the document’s original language

sold or otherwise made available to and should not be offered, sold or otherwise made available to any retail

orlen-seria-b.pdf · p. 2Quotation in the document’s original language

6. (a) Specified Denominations: €100,000 and integral multiples of €1,000 in excess thereof

Parameters

Bond price

ORLEN· ORL0730

Parameters

Bond price · ORL0730

Key information

Bond terms

Interest and repayment

What are the denomination and currency?

This series calculator is unavailable

How is interest determined?

When is interest paid?

When and how is principal repaid?

Investor rights and protection

Can the issuer redeem the bonds early?

When can an investor demand early redemption?

What security and repayment ranking apply?

Which breaches give bondholders rights?

Issuer and other terms

Who is the issuer?

What are the proceeds intended for?

What material obligations does the issuer have?

What additional terms need attention?