18.03.2011
Prolongation of loan agreements with BRE Bank SA
On 17 March 2011 Stalprofil SA signed with BRE Bank SA in Warsaw, O/Katowice two annexes to credit agreements for another year, extending the validity period of credit lines used by the issuer to finance current business.
Following the conclusion of these annexes Stalprofil SA may use to 16 March 2012 credit limit at BRE Bank SA in the total, unchanged amount of 35 mln zł, including:
- revolving working capital loan of PLN 24 million,
- multi-currency loan in the current account in the amount of 11 mln PLN.
The Company recognizes the agreements concluded to be significant, as their total value exceeds 10% of the equity of the issuer.
The financial terms under which the Company will use the granted limits do not differ from the commonly used for such agreements and are based on WIBOR + margin of the bank.
There was also amended the basic law providing the credit limit, which is established for the benefit of BRE Bank SA, registered pledge on commercial goods owned Stalprofil SA with a total value of the net recorded prices as high as 31 million PLN and made for the assignment of receivables owed to the Bank Stalprofil SA of commercial contracts, with an estimated 6 million PLN.
Assets, which establishes a limited right in rem in favor of the Bank Company considers significant value because their value exceeds the PLN equivalent of EUR 1 million.
Following the conclusion of these annexes Stalprofil SA may use to 16 March 2012 credit limit at BRE Bank SA in the total, unchanged amount of 35 mln zł, including:
- revolving working capital loan of PLN 24 million,
- multi-currency loan in the current account in the amount of 11 mln PLN.
The Company recognizes the agreements concluded to be significant, as their total value exceeds 10% of the equity of the issuer.
The financial terms under which the Company will use the granted limits do not differ from the commonly used for such agreements and are based on WIBOR + margin of the bank.
There was also amended the basic law providing the credit limit, which is established for the benefit of BRE Bank SA, registered pledge on commercial goods owned Stalprofil SA with a total value of the net recorded prices as high as 31 million PLN and made for the assignment of receivables owed to the Bank Stalprofil SA of commercial contracts, with an estimated 6 million PLN.
Assets, which establishes a limited right in rem in favor of the Bank Company considers significant value because their value exceeds the PLN equivalent of EUR 1 million.