Budimex.pl

Current report no 61 / 2016

Date: September 2, 2016 11:00 AM

Agreement on bank guarantee line with Credit Agricole Bank Polska SA

rb bx/61/2016

 

The Management Board of Budimex SA reports that on 2 September 2016 Budimex was informed by Credit Agricole Bank Polska SA that an agreement on a bank guarantee line dated 31 August 2016 had been signed.

Under the agreement, the bank granted to Budimex a limit of PLN 400 million up to which the company may request that the bank issue bank guarantees.

The agreement was concluded for the period until 31 August 2017. As collateral securing the financial liabilities of Budimex under the agreement, the company will submit to the bank the statement on voluntary submission to enforcement pursuant to Article 777 of the Code of Civil Procedure. The remaining terms and conditions of the agreement do not vary from the ones applied commonly in agreements of this type.

Active bank guarantees which have been issued by the bank under the formerly existing agreement on bank guarantee line, the conclusion of and amendments to which were reported by Budimex in earlier current reports (No 56/2008 of 13 October 2008, and in subsequent reports: 44/2009 of 8 June 2009; 56/2009 of 24 July 2009; 75/2009 of 1 September 2009; 2/2010 of 18 January 2010; 30/2010 of 6 April 2010; 40/2010 of 10 May 2010; 35/2011 of 28 April 2011; 50/2011 of 7 June 2011; 31/2012 of 5 June 2012; 56/2012 of 5 September 2012; 55/2013 of 30 August 2013; 20/2014 of 27 February 2014 and 61/2014 of 31 July 2014 and 57/2015 of 2 September 2015) will charge the limit granted to the company under the new agreement, and the formerly existing agreement has expired.  

 

The value of the agreement concluded with Credit Agricole Bank Polska SA exceeds the threshold of PLN 102,680 thousand.

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