Conclusion of an annex to the loan agreement with PKO BP S.A.
The Management Board of STALPROFIL S.A. informs that the Company concluded with PKO BP S.A. with its registered office in Warsaw, an annex to the loan agreement in the form of a multi-purpose credit limit, which extends the availability date of the limit of PLN 75,000,000.00 until 22 September 2020.
Under the limit granted, STALPROFIL SA may use a multi-currency loan in PLN, EUR, USD currency in the current account up to the equivalent of PLN 10,000,000.00, a revolving credit facility in PLN, EUR, USD currency up to 50% the limit, ie the equivalent of PLN 37,500,000.00, domestic and foreign bank guarantees in PLN, EUR, USD currency up to the equivalent of PLN 52,500,000.00, own-length documentary letters of credit in PLN, USD and EUR currency up to the equivalent of 52.500.000.00 PLN, however the total amount of simultaneous use of the above-mentioned sublimits may not exceed the limit of PLN 75,000,000.00.
The interest rate of the loan was determined based on market conditions based on WIBOR 1M, EURIBOR 1M, LIBOR 1M + the Bank's margin.
Securing the limit is, as before:
1. contractual mortgage up to the amount of PLN 35,000,000.00 established on the Company's right of perpetual usufruct of the real estate and the ownership right of the buildings and equipment erected on it, located in Katowice-Panewniki,
2. a registered pledge on inventories of commercial goods with a value not lower than PLN 20,000,000.00,
3. transfer of receivables from the property insurance contract covered by the aforementioned mortgage,
4. statement on submission to enforcement in accordance with art. 777 kc.
The PKO BP S.A. bank is the largest creditor of the Company, and the aforementioned credit limit is an important source of long-term and short-term financing of operations of STALPROFIL S.A.