Two loans totalling EUR 499 m, granted to Energa SA by Energa Finance AB (publ) (an SPV) from the proceeds of its eurobond (EMTN) issue in March 2013, as well as an EUR 200 m loan granted in June 2017 from the proceeds of an eurobond (EMTN) issue in March 2017, were continued in 2018.
Furthermore, in the reporting period, the Energa Group serviced its bond programmes, where for reasons of effective liquidity management, the Group company issuing the debt securities addressed the proposal only to the other Group companies.
In pursuance of the financial policy of the Energa Group and in line with the terms and conditions of the internal bond programmes, Energa SA purchased bonds issued by Energa Operator SA in 2018 for a total of PLN 1,066 m. The main goal of the issuance was to provide the issuer (an Energa Group com-pany) with funds to carry out its investment programme.
The following table presents the par values of bonds taken up by Energa and not redeemed, by Energa Group issuer company, as at 31 December 2018.
With respect to the domestic bond programme set up in September 2012, under which Energa SA car-ried out its first PLN 1,000 m bond issue, there have been no changes to the volume of the issuance. In the framework of its measures carried on in 2018, the Energa Operator SA subsidiary acquired a further block of bonds of Energa SA on the secondary market: 16,780 bonds with a total par value of PLN 167.8 m. As at 31 December 2018, Energa Operator SA held 99,749 bonds of Energa SA with a total par value of PLN 997.49 m.
