01.04.2015

Conclusion of annexes to loan agreements with mBank S.A.

On March 31, 2015. Stalprofil SA and mBank SA Corporate Branch in Katowice signed annexes to two long-term contracts for renewable working capital loans, financed by the EIB with a limit of PLN 10 million each. The annexes extend for another year the availability dates of the two loans, that is 12.02.2016 to 14.02.2017 and 29.01.2016 to 30.01.2017 respectively.
These loans were granted to the Company for the purpose of financing its current operations.
Stalprofil uses a total credit limit mBank SA in the amount of PLN 35 million, which is distributed to the following lines of credit:
- long-term revolving working capital loan in the amount of PLN 10 million available to 30.01.2017,
- long-term revolving working capital loan in the amount of PLN 10 million available to 30.01.2017,
- long-term revolving working capital loan in the amount of PLN 10 million available to 14.02.2017,
- overdraft in the amount of PLN 5 million available to 28.01.2016.
The Company recognizes agreements as significant as their total value exceeds 10% of the equity of the issuer. The financial terms on which the Company will benefit from the assigned limits do not differ from those commonly used for this type of contract and are based on WIBOR + margin.
The basic legal safeguards of the total credit limit in mBank SA remained unchanged and consist of a lien on commercial goods owned Stalprofil the total value of net fixed prices at the level of PLN 33 million and made to mBank SA assignment of receivables due Stalprofil of commercial contracts, estimated value of 2 million PLN.