26.01.2009
Prolonging credit deals with Kredyt Bank SA
In January 26th, 2009 Stalprofil SA was informed about prolonging by Kredyt bank SA for another 12 months (to January 25th, 2010) of credit limit of 55 mln PLN, to be used by the company for short-term credit transactions.
Due to the prolonging Stalprofil SA signed two anexes to credit deals with Kredyt Bank SA (in January 26th, 2009 Kredyt Bank SA informed the company about its signing of the anexes), on basis of which following credit limits validity was prolonged: renewable turnover credit for 29 mln PLN and current account credit for 10 mln PLN, to January the 25th, 2010. The awarded credit limits will be used by the company for financing of the current operating activity.
Financial conditions on which the Company is going to avail of this credit do not differ from the generally applicable ones and they are based on WIBOR O/N + bank margin. The company considers the contracts important as their value exceeds 10% of the issuer’s equity.
One of the legal securities of the credit granted is the registered pledge agreement concerning commercial goods owned by Stalprofil of net value of 10 mln PLN. The company concerns assets covered by the registered pledge agreement high-value assets as their value exceeds the equivalent of 1 mln EUR. The company will be able to use the rest (16 mln PLN) of the credit limit for other short-term credit transactions, such as: bill of exchange discounting, letters of credit, bank guarantees by signing apropriate deals with Kredyt Bank SA during credit limit validity period.
Legal basis: §5 cl.1 item 1 and 3 of the Regulation of the Minister of Finance dated October 19, 2005 on current and periodical information submitted by the issuers of securities.
Due to the prolonging Stalprofil SA signed two anexes to credit deals with Kredyt Bank SA (in January 26th, 2009 Kredyt Bank SA informed the company about its signing of the anexes), on basis of which following credit limits validity was prolonged: renewable turnover credit for 29 mln PLN and current account credit for 10 mln PLN, to January the 25th, 2010. The awarded credit limits will be used by the company for financing of the current operating activity.
Financial conditions on which the Company is going to avail of this credit do not differ from the generally applicable ones and they are based on WIBOR O/N + bank margin. The company considers the contracts important as their value exceeds 10% of the issuer’s equity.
One of the legal securities of the credit granted is the registered pledge agreement concerning commercial goods owned by Stalprofil of net value of 10 mln PLN. The company concerns assets covered by the registered pledge agreement high-value assets as their value exceeds the equivalent of 1 mln EUR. The company will be able to use the rest (16 mln PLN) of the credit limit for other short-term credit transactions, such as: bill of exchange discounting, letters of credit, bank guarantees by signing apropriate deals with Kredyt Bank SA during credit limit validity period.
Legal basis: §5 cl.1 item 1 and 3 of the Regulation of the Minister of Finance dated October 19, 2005 on current and periodical information submitted by the issuers of securities.