31.01.2017

Extension of credit agreements concluded with mBank S.A.

On 31.01.2017 the Management Board of Stalprofil S.A. received information on signing by mBank S.A. with its seat in Warsaw annexes to credit agreements, which extend for another year the period of availability of credit limits granted to the Company by mBank S.A. That bank is one of the main creditors of the Company and lines of credit made available for another term are an important source of long- and short-term financing of operations of STALPROFIL S.A.
Included annexes remain unchanged the total amount of the credit limit made available to the issuer by mBank S.A., which amounts to 40.0 million PLN and consists of:
- long-term revolving working capital loan in the amount of 10.0 million PLN, available to 30.01.2019,
- long-term revolving working capital loan in the amount of 10.0 million PLN, available to 30.01.2019,
- long-term revolving working capital loan in the amount of 10.0 million PLN, available to 14.02.2019,
- multi-currency loan in the current account in the amount of 5 million PLN available to 30.01.2018,
- overdraft in the amount of 5 million PLN available to 01.31.2018.
Financial terms on which the Company uses the granted limits do not differ from those commonly used for such contracts and are based on WIBOR + margin.
Basic protection of total credit limit granted by mBank S.A. include:
1. Pledge on inventories of commercial goods with a value of no less than 40,000,000.00 PLN.
2. Statement of execution in accordance with Article 777 of the Civil Code.