Aktueller Bericht Nr. 75 / 2012

Signing a confirmed short-term credit facility contract with the Polish Branch of Societe Generale SA

The Management Board of Budimex SA announces that today, on 28 November 2012, a confirmed short-term credit facility contract has been entered into with the Polish Branch of Societe Generale Spółka Akcyjna.
Under the above contract, the bank made available to Budimex a standby overdraft up to the amount of PLN 50,000,000 (fifty million zloty) until 27 November 2013.
On account of using the credit facility, the company will pay to the bank the interest calculated as per the WIBOR1M base rate increased by the amount of the margin. As security for repayment of amounts due to the bank under the above contract, Budimex granted the bank a power of attorney to administer the company's account maintained by the bank and made representation regarding voluntary submission to bank enforcement under provisions of the Polish Banking Law Act.
Other terms and conditions are standard for this type of contract.     
Simultaneously, considering the fact that the above contract was entered into as part of the current credit limit, which had been used so far by Budimex to order the Bank to issue bank guarantees, the bank and the company signed an annex to the agreement on bank guarantees, about which the company announced by way of current reports: nos. 37/2011 of 4 May 2011, 72/2011 of 2 August 2011 and 25/2012 of 8 May 2012, in which a new limit was established with regard to the issuance of bank guarantees and which determined this limit to be PLN 115,000,000.– (one hundred fifteen million zloty).
The value of the contract exceeds 10% of the equity of Budimex SA.