Budimex.pl

Current report no 39 / 2019

Date: June 28, 2019 12:58 PM

Signature of a “Nowy Dom” Investment Credit Agreement by Budimex Nieruchomości Sp. z o.o.

The Management Board of Budimex S.A. announces that on 28 June 2019 Budimex Nieruchomości Sp. z o.o., a wholly-owned subsidiary of Budimex SA, concluded a “Nowy Dom” Investment Credit Agreement with Powszechna Kasa Oszczędności Bank Polski SA for an amount of up to PLN 120,000,000.

 

The subject matter of the agreement is a revolving credit for financing / refinancing the costs of development projects implemented by Budimex Nieruchomości Sp. z o.o.

The credit interest rate is based on the Wibor 3M rate plus margin.

It was established in the agreement that the credit will be disbursed in tranches, according to the Borrower’s needs arising from implemented development projects, and it will be repaid until 28 June 2023.

Interest will be payable on a monthly basis.

The credit is collateralised by a contractual mortgage or a cumulative contractual mortgage of up to 150% of the credit amount, established on the real estate on which the projects financed by the Bank will be implemented, plus other standard collateral for such type of agreements.

 

The remaining terms and conditions of the agreement do not significantly vary from the ones commonly applied to agreements of this type.

 

Final date of repayment — 28 June 2023

 

The value of the agreement exceeds the threshold of PLN 109,127 thousand net.

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Shareholdership structure as on 18.06.2020

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