29.01.2013
Signing of annexes prolonging loan agreements with BRE Bank SA
On 28.01.2013 the Board Stalprofil SA learned about signing by BRE Bank SA in Warsaw, O/Katowice, of annex to the multi-currency loan in the current account (PLN/EUR) of 15 million PLN and annex to the loan agreement in the amount of 10 million PLN. These annexes extend the period of validity of credit agreements between BRE Bank SA and Stalprofil SA for another year.
As a result of the above-mentioned annexes to credit agreements Stalprofil SA may benefit from the combined credit limit in BRE Bank SA, to finance ongoing operations, in amount 35 million PLN, including:
- revolving working capital loan (short-term) in the amount of PLN 10 million, by 30 January 2014,
- multi-currency loan in the current account in the amount of PLN 15 million, by 30 January 2014,
- long-term working capital revolving facility, funded by the European Investment Bank, in the amount of 10.0 million PLN to 25.09.2014.
The Company considers the agreements concluded to be significant, because their total value exceeds 10% of the equity of the issuer. The financial terms of which the Company will use the granted limits do not differ from those commonly used for this type of contract and are based on WIBOR + margin.
Basic legal safeguards for the total credit limit in BRE Bank SA, which consists of: pledge on commercial goods owned Stalprofil SA with a total value of net registration prices as high as 31 million PLN and assignment of commercial contracts with an estimated value of 4 million PLN, have not changed.
As a result of the above-mentioned annexes to credit agreements Stalprofil SA may benefit from the combined credit limit in BRE Bank SA, to finance ongoing operations, in amount 35 million PLN, including:
- revolving working capital loan (short-term) in the amount of PLN 10 million, by 30 January 2014,
- multi-currency loan in the current account in the amount of PLN 15 million, by 30 January 2014,
- long-term working capital revolving facility, funded by the European Investment Bank, in the amount of 10.0 million PLN to 25.09.2014.
The Company considers the agreements concluded to be significant, because their total value exceeds 10% of the equity of the issuer. The financial terms of which the Company will use the granted limits do not differ from those commonly used for this type of contract and are based on WIBOR + margin.
Basic legal safeguards for the total credit limit in BRE Bank SA, which consists of: pledge on commercial goods owned Stalprofil SA with a total value of net registration prices as high as 31 million PLN and assignment of commercial contracts with an estimated value of 4 million PLN, have not changed.