Date: March 22, 2011
Signing by Budimex Nieruchomości the credit agreement with PKO BP SA
The Management Board of Budimex SA informs that on 22 March 2011 Budimex Nieruchomości Sp. z o.o. (subsidiary company 100% associated with Budimex SA) signed with PKO BP SA with its registered office in Warsaw a credit agreement to co-finance and rollover the realisation costs of the Stage III of the housing project in Warsaw at ul. Inflancka called “Apartamenty Murano”.
- Credit sum: PLN 77 500 000
- Interest: based on the Wibor 1M base plus margin
- Fixed securities
- Mortgage to the sum of PLN 131 750 000
- Assignment of financial receivables from the construction site insurance contract
- Assignmenf to PKO BP SA receivables pursuant to the agreement entered with the General Contractor
- Assignment to PKO BP SA receivables pursuant to already signed and newly signed sales agreements
- Power of attorney to the Borrower's accounts concerning solely the realised undertaking
- Recivables deduction clause from the Company's accounts held at PKO BP SA concerning solely the realised undertaking
- Final credit balance: 31.12.2014
- The remaining financial conditions are standard for this type of agreement
The value of the agreement exceeds the sum of 10% of equity capitals of Budimex.