Current report no 27 / 2013

Current report no 27 / 2013 - 17 April 2013 / 00:00

Signing of an amendment to the credit facility agreement with Bank PEKAO SA

The Management Board of Budimex S.A. announces that on 17 April 2013 it received information from Bank PEKAO SA that an amendment to the credit facility agreement of 12 August 2008 had been signed. Budimex S.A. mentioned this agreement and the amendments thereto in current report nos. 47/2008 of 12 August 2008, 67/2009 of 13 August 2009, 38/2010 of 4 May 2010, 54/2011 of 17 June 2011, 30/2012 of 30 May 2012 and 36/2012 of 3 July 2012.
Under the aforementioned amendment a credit limit of PLN 523,000,000.00 (five hundred and twenty three million zlotys) hitherto utilised by Budimex SA to commission the bank for the issuance of bank guarantees, was divided into:
– a limit of PLN 473,000,000.00 (four hundred and seventy three million zlotys) to be used for the issuance of bank guarantees, and
– a limit of PLN 50,000,000.00 (fifty million zlotys) to be used by Budimex SA as a standby credit facility tied to the current account.
In consideration of the overdraft facility, the company shall pay to the bank interest calculated according to WIBOR1M plus margin.
As security for the repayment of the amounts due to the bank for the use of the aforementioned loan products, Budimex has granted to the bank a power of attorney to manage the company’s account maintained by the bank and has made a representation on voluntary submission to the bank enforcement under relevant provisions of the Polish Banking Law Act.
The remaining provisions of the agreement shall remain unchanged.
The value of the agreement exceeds 10% of the equity of Budimex S.A.