19/2009: Conclusion of a material agreement on credit cooperation
The Management Board of PBG SA hereby informs that it was notified that PBG S.A. concluded a material agreement with Nordea Bank Polska S.A. on 10 April 2009. The subject matter of the agreement is the rules of cooperation in the scope of crediting business activity between PBG S.A. and the companies from the Capital Group, i.e. Hydrobudowa Polska S.A. and Infra S.A. Under the agreement the Companies may use short-term credits until 10 April 2012 in the current account, for the period of one year, bank guarantees for the period of three years and letters of credit for the period of three years up to the total amount of bank involvement not exceeding PLN 115,000,000. The limit may be used under detailed agreements determining, e.g. the type of sureties that may include:
* assignment of receivables arising from contracts performed by the companies from the Capital Group amounting to at least 150% of the limit used.
* Powers of attorney to manage borrowers'' current accounts kept by the Bank.
* mutual guarantees of borrowers under the civil law;
* blank promissory notes issued by Borrowers and bill of exchange promissory note agreements;
* a declaration of being subject to enforcement proceedings.
The agreement was recognised as material due to equity criterion.
Legal basis:
Article 5 par.1 point 3 of the Regulation of 19th February 2009 on current and interim information provided by issuers of securities and the conditions for recognising information required under the non-Member State law as equivalent.
Signature of the authorised person:
Magdalena Eckert-Boruta
Pliki:
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