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Current report no 27 / 2016
Date: April 19, 2016
Agreement on bank guarantees with ING Bank Śląski SA
The Management Board of Budimex SA reports that on 19 April 2016 the Company was informed by ING Bank Śląski SA about the signing of an annex to the framework agreement on bank guarantees.
Under the annex, the bank increased the limit amount to which Budimex can order the Bank to issue bank guarantees from PLN 256,000,000 (say: two hundred fifty-six million zlotys) to PLN 400,000,000 (say: four hundred million zlotys). The annex enters into force after Budimex submits the declaration on submission to enforcement pursuant to Article 777(1)(5) of the Civil Proceedings Code.
Other provisions of the agreement remain unchanged.
The amount of the credit limit extended exceeds 10% of the equity of Budimex SA.
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