Company: PLSAY
Filing Date: 2025-05-09
Form Type: 20-F
Source: 0001884082-25-000012
Chunk: 402

Company: Polestar Automotive Holding UK PLC
Filing Date: 2025-05-09
Form: 20-F
Item: Item 19
Chunk 402
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 plus 1.1% settled on maturity         125,000      125,000  
 ──────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Total                                                                                                                                            $  

1 - Secured by Geely.

2 - New vehicle inventory purchased via this facility is pledged as security until repaid. This facility has a repayment period of 90 days and includes a covenant tied to the Group’s financial performance and minimum quarterly cash levels of € 400,000

3 - People’s Bank of China (“ PBOC”) Loan Prime Rate (“ LPR").

4 - Euro Interbank Offered Rate (“ EURIBOR”).

5 - Secured Overnight Financing Rate ("SOFR")

6 - Letter of comfort from Geely.

7 - The working capital CNY loans from the Industrial Bank, Ningbo branch, are subject to covenant requirements. These require a six-month observation period starting from the loan issuance date, during which the monthly average sales of Polestar vehicles must reach at least 5,000 25

The Group has the following non-current syndicated loans from banks outstanding as of December 31, 2024:

  Currency      Term                               Security             Interest                              Nominal amount in      Carrying value in               
                                                                                                            respective currency      USD                             
  USD           February 2024 - February 2027      Unsecured 2,3,6      3 month Term SOFR 1 plus 3.35%                  583,489      577,785                         
  EUR           February 2024 - February 2027      Unsecured 2,3,6      3 month EURIBOR 4 plus 2.85%                    340,000      349,450                         
 ─────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Total                                                                                                                              $                      927,235  

1 - Term Secured Overnight Financing Rate ("Term SOFR").

2 - Keepwell deed from Geely, and Letter of Comfort from Volvo Cars and PSD.

3 - The loans are secured by interest reserve accounts pledges with an aggregate of three months interest deposited.

4 - Euro Interbank Offered Rate (“ EURIBOR”).

5 - The nominal amount in USD as of December 31, 2024, is $ 352,825

6 - The syndicated loans are subject to covenant requirements, including but not limited to a minimum annual revenue of $ 5,