Budimex.pl

Current report no 5 / 2021

Date: January 20, 2021 6:54 PM

Conclusion of annexes to existing credit agreements and conclusion of a new credit agreement

The Management Board of Budimex SA announces that on 20 January 2021 the company concluded annexes to bilateral credit agreements with the banks: Bank Polska Kasa Opieki SA, Credit Agricole Bank Polska SA, Societe Generale SA Branch in Poland and ING Bank Śląski SA:

 

• Under the annex to the credit agreement with Bank Polska Kasa Opieki SA, the conclusion of which was reported by the company in current report No 28/2015 of 15 May 2015, Bank Polska Kasa Opieki SA extended the possible credit use period until 14 May 2024. The credit amount remains unchanged, i.e. PLN 100,000,000 (say: one hundred million zlotys).

 

• Under the annex to the credit agreement with Credit Agricole Bank Polska SA, the conclusion of which was reported by the company in current report No 28/2015 of 15 May 2015, Credit Agricole Bank Polska SA extended the possible credit use period until 31 May 2024. The credit amount remains unchanged, i.e. PLN 70,000,000 (say: seventy million zlotys).

 

• Under the annex to the credit agreement with Societe Generale SA Branch in Poland, the conclusion of which was reported by the company in current report No 28/2015 of 15 May 2015, Societe Generale SA Branch in Poland extended the possible credit use period until 31 May 2024. The credit amount remains unchanged, i.e. PLN 70,000,000 (say: seventy million zlotys).

 

• Under the annex to the credit agreement with ING Bank Śląski SA, the conclusion of which was reported by the company in current report No 28/2015 of 15 May 2015, ING Bank Śląski SA extended the possible credit use period until 31 May 2024 and increased the credit amount to PLN 60,000,000 (say: sixty million zlotys).

 

Additionally, Budimex SA concluded an annex to the credit agreement with Santander Bank Polska SA, the conclusion of which was reported by the company in current report No 28/2015 of 15 May 2015, whereby the credit availability period was reduced to 20 January 2021.

 

At the same time, Budimex SA concluded a new credit agreement with CaixaBank SA Branch in Poland, under which the bank made available to the company an overdraft facility in the amount of PLN 100,000,000 (say: one hundred million zlotys) for a period until 31 May 2024.

 

The conclusion of the five above described annexes and one new credit agreement gives the company, for a period of 3.5 years, access to the promised revolving credit facilities, securing the company's financial liquidity for a total amount of PLN 400,000,000 (say: four hundred million zlotys).

 

For using the credits, the company will pay the banks interest calculated according to the WIBOR base rate applicable to a given interest period, plus a margin.

 

To secure the repayment of liabilities under the aforementioned credit agreements, Budimex will submit to the banks a declaration of voluntary submission to enforcement, pursuant to the provisions of the Code of Civil Procedure.

 

The remaining provisions are standard for agreements of this type.

 

The grounds for providing this information is the conclusion of agreements of a significant total value, exceeding 2% of the company’s revenue from sales.

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