30.01.2019

Extension of loan agreements concluded with mBank S.A.

On 30.01.2019 the Management Board of Stalprofil SA learned about the reverse signing of annexes to loan agreements by mBank S.A. with its registered office in Warsaw, Corporate Branch in Katowice, which extends the availability of credit limits granted to the Company by mBank S.A. for another year. Moreover, mBank S.A. granted an additional credit limit at the Company's request in the amount of PLN 5.0 million for the purpose of opening letters of credit and granting guarantees.
As a result of the agreements signed, the total value of the credit limit made available to the issuer by mBank S.A. is PLN 45.0 million and consists of the following banking products:
- revolving long-term loan in the amount of PLN 10.0 million, available until 28.01.2021
- long-term revolving loan in the amount of PLN 10.0 million, available until 28.01.2021
- long-term revolving loan in the amount of PLN 10.0 million, available until 28.01.2021
- a multi-currency loan in the current account in the amount of PLN 5.0 million, available until 30.01.2020
- overdraft facility in the amount of PLN 5.0 million, available until 30.01.2020
- a limit on guarantees and letters of credit in the amount of PLN 5.0 million, available until 30.01.2020 with the possibility that their expiry date would go beyond the availability date and not exceed 30.01.2022.
mBank S.A. is one of the main lenders of the Company, and credit lines made available for the next period constitute an important source of long-term and short-term financing of operations of STALPROFIL S.A.
Financial terms on which the Company uses the limits granted do not differ from those commonly used for this type of agreements and are based on the WIBOR rate + bank's margin.
The basic collateral for the total credit limit granted by mBank SA are as follows:
1. registered pledge on inventories of commercial goods with a value not lower than PLN 40.0 million,
2. a declaration on submission to enforcement in accordance with art. 777 kc.