Aktuální report č. 20 / 2011

Signing by Budimex Nieruchomości the credit agreement with PKO BP SA

The Management Board of Budimex SA informs that on 22 March 2011 Budimex Nieruchomości Sp. z o.o. (subsidiary company 100% associated with Budimex SA) signed with PKO BP SA with its registered office in Warsaw a credit agreement to co-finance and rollover the realisation costs of the Stage III of the housing project in Warsaw at ul. Inflancka called “Apartamenty Murano”.

• Credit sum: PLN 77 500 000
• Interest: based on the Wibor 1M base plus margin
• Fixed securities
  • Mortgage to the sum of PLN 131 750 000
  • Assignment of financial receivables from the construction site insurance contract
  • Assignmenf to PKO BP SA receivables pursuant to the agreement entered with the General Contractor
  • Assignment to PKO BP SA receivables pursuant to already signed and newly signed sales agreements
  • Power of attorney to the Borrower's accounts concerning solely the realised undertaking
  • Recivables deduction clause from the Company's accounts held at PKO BP SA concerning solely the realised undertaking
• Final credit balance: 31.12.2014
• The remaining financial conditions are standard for this type of agreement

The value of the agreement exceeds the sum of 10% of equity capitals of Budimex.