31.01.2018

Prolongation of credit agreements with mBank S.A.

On 31.01.2018 the Management Board of Stalprofil S.A. was informed about signing by mBank S.A. with its seat in Warsaw annexes to loan agreements, which extend for another year the period of availability of credit limits granted to the Company by mBank S.A. The said bank is one of the main creditors of the Company and the lines of credit made available for the next period are an important source of long-term and short-term financing operations of STALPROFIL S.A.
Included annexes remain unchanged the total value of the issuer's credit limit in mBank S.A., which amounts to 40.0 million PLN and consists of:
- long-term revolving working capital loan in the amount of PLN 10.0 million, available to 30.01.2020,
- long-term revolving working capital loan in the amount of PLN 10.0 million, available to 30.01.2020,
- long-term revolving working capital loan in the amount of PLN 10.0 million, available to 30.01.2020,
- multi-currency loan in the current account in the amount of PLN 5.0 million, available to 30.01.2019,
- overdraft in the amount of PLN 5.0 million, available to 30.01.2019.
The financial terms on which the Company uses the granted limits do not differ from those commonly used for this type of contracts and are based on WIBOR + bank's margin.
Basic protection of the total credit limit granted by mBank S.A. are:
1) registered pledge on commercial goods with a value of no less than 40.0 million PLN,
2) declaration of submission to enforcement in accordance with Article 777 of the Civil Code.