Current report no 65 / 2019

Signing of Agreement on Amortizing Revolving Loan by Budimex Nieruchomości Sp. z o.o.

The Management Board of Budimex S.A. announces that on 3 October 2019 it was notified by Budimex Nieruchomości Sp. z o.o., a wholly-owned subsidiary of Budimex S.A., about conclusion of an Agreement on Amortizing Revolving Loan up to the amount of PLN 120,000,000 with Santander Bank Polska SA.

The subject matter of the agreement is a revolving loan for financing / refinancing the costs of land purchase and development projects implemented by Budimex Nieruchomości Sp. z o.o.

The loan interest rate is based on the WIBOR 3M rate plus margin.

The Agreement specifies that the loan will be disbursed as per the Borrower’s needs for 3 years from the date of signing the agreement. The loan shall be repaid until 29 September 2023 in five equal quarterly instalments starting from 30 September 2022.

Interest shall be payable on a monthly basis.

The loan is collateralised by a mortgage of up to 120% of the loan amount, established on the real estate owned by Budimex Nieruchomości sp. z o.o. plus other standard collaterals for such type of agreements.

The remaining terms and conditions of the agreement do not significantly vary from the ones commonly applied to agreements of this type.

The value of the agreement exceeds the threshold of PLN 109,127 thousand net.