Aktuální report č. 28 / 2015

Conclusion of loan agreements

The Management Board of Budimex SA would like to inform you that on 15 May 2015, the following banks: Societe Generale SA Branch in Poland, Bank PEKAO SA, Bank Zachodni WBK SA, Credit Agricole Bank Polska SA and ING Bank Śląski SA informed the company about the conclusion of bilateral loan agreements for the total amount of PLN 270,000,000 (say: two hundred and seventy million zlotys), under which the banks granted Budimex committed, renewable credit limits securing the company’s financial liquidity for the period of 3 (three) years.

Societe Generale SA Branch in Poland extended an overdraft facility in the amount of PLN 70,000,000 (say: seventy million zlotys) to Budimex for the period until 14 May 2018.

Bank PEKAO SA extended a loan disbursed in tranches in the amount of PLN 50,000,000 (say: fifty million zlotys) to Budimex for the period until 14 May 2018. The loan in question replaces the overdraft facility in the amount of PLN 50,000,000 (say: fifty million zlotys) extended to Budimex by Bank PEKAO SA under a loan agreement. The company informed about the conclusion of such agreement in the current report No 27/2013 of 17 April 2013.  

Bank Zachodni WBK SA extended a loan disbursed in tranches in the amount of PLN 50,000,000 (say: fifty million zlotys) to Budimex for the period until 12 May 2018.

Credit Agricole Bank Polska SA extended a loan disbursed in tranches in the amount of PLN 50,000,000 (say: fifty million zlotys) to Budimex for the period until 11 May 2018.

ING Bank Śląski SA extended an overdraft facility in the amount of PLN 50,000,000 (say: fifty million zlotys) to Budimex for the period until 1 May 2018.

For using the loans, the company will pay to the banks interest calculated according to the WIBOR base rate plus margin applicable to a given interest period.

To secure the repayment of liabilities under the abovementioned loan agreements, Budimex submitted to each of the abovementioned banks a declaration of voluntary submission to enforcement, pursuant to the provisions of the Banking Law, and granted an authorisation in respect of the bank accounts.

The remaining terms and conditions of the agreements are standard for the agreements of this type.

The amount of credit limits extended exceeds 10% of the equity of Budimex SA.