Aktuální report č. 49 / 2014

Conclusion of an agreement on granting bank guarantees with Bank Handlowy and BNP Paribas Polska

The Management Board of Budimex reports that on 13 June, 2014 the company entered into a contract to order the provision of bank guarantees with Bank Handlowy w Warszawie S. A. and BNP Paribas Bank Polska S. A., pursuant to which, until 29 August, 2014, Budimex may order the banks to issue a bank performance bond and an advance payment guarantee to the total amount of PLN 180,000,000 (in words: one hundred and eighty million), whereas the exposure of each bank under the issued guarantee, and under this agreement shall not exceed the total of PLN 90,000,000 (in words: ninety million).
By way of securing the Budimex liabilities, which arise from the issued guarantees, the company shall provide the banks with collateral security in the form of a statement of voluntary submission to execution. Other terms and conditions are standard for this type of agreement.
The issuing of the abovementioned guarantees by BNP Paribas Bank Polska S. A. shall reduce the limit amount on bank guarantees that is available to Budimex, and that which was provided by the bank pursuant to the agreement that Budimex S.A. announced in current report No. 20/2008 of 28 April, 2008.
The contractual value exceeds 10% of the equity of Budimex SA.