Prolonging credit deals with BRE Bank SA

In March 19th, 2009 Stalprofil SA was informed about signing by BRE Bank SA in Warsaw (division in Katowice) of two anexes to credit deals, prolonging for another year validity of credit lines used by the company for financing of the current operating activity.

Due to the prolonging Stalprofil can make use of credit limit in BRE Bank SA to summed value of 25 mln PLN (with possibility to be increased to 35 mln PLN), including revocable turnover credit of 14 mln PLN (with possibility to be increased to 24 mln PLN) and PLN-EUR current account credit of 11 mln PLN.

The company considers the contracts important as their value exceeds 10% of the issuer’s equity.

Financial conditions on which the company is going to avail of these credit limits do not differ from the generally applicable ones and they are based on WIBOR + bank margin.

The main legal security of the credit limit granted is the registered pledge agreement concerning commercial goods owned by Stalprofil of net value of 25 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.