investor relations
Subject: Conclusion of a credit agreement
Legal basis: Article 17 section 1 of MAR – confidential information
Content of the report:
The Management Board of J.W. Construction Holding S.A. with its registered office in Ząbki ("Company") informs that on 25 June 2020 , the Company concluded a credit agreement with Bank Millennium S.A. with its registered office in Warsaw ("Bank"), on the basis of which the Bank granted the Company a working capital credit in the amount of PLN 49,900,000.00 ("Credit"), to finance the investment of Bliska Wola Stage D in Warsaw at Kasprzaka/Prymasa Tysiąclecia Street.
Credit material terms and conditions:
1) the final repayment date of the Credit has been set at 22 December 2021.
2) the credit will be repaid in 3 instalments:
On 22 October 2021 - PLN 16,633,300.00
On 22 November 2021 - PLN 16,633,300.00
On 22 December 2021 - PLN 16,633,300.00
3) the interest rate is variable on a monthly basis based on WIBOR 1M base rate plus the Bank's margin;
3) the legal collateral for the Credit constitute
a) the Company's statement on submission to the rigour of execution under Article 777 §1 point 5 of the Act on Public Procurement of the Code of Civil Procedure up to the amount of PLN 79,840,000.00 ( say: seventy nine million eight hundred and fourty thousand 00/100) to the benefit of the Bank as a security for the repayment of the principle, interest and all costs related to the collection of the debt on account of the granted credit.
b) Assignment of rights under contracts for the construction and sale of nonresidential premises in the Company's Bliska Wola Stage DK investment in Warsaw, Kasprzaka/Prymasa Tysiąclecia Street.
c) Registered pledge and financial pledge on bank accounts maintained by the Bank for the servicing of proceeds from agreements concluded for the sale of non-residential premises in the Company's Bliska Wola Stage DK investment in Warsaw, Kasprzaka/Prymasa Tysiąclecia Street.
d) Guarantee in the amount of PLN 39,920,000.00 (80 % of the credit amount) granted by Bank Gospodarstwa Krajowego S.A. under the portfolio agreement of the PLG-FGP Liquidity Guarantee Fund guarantee line with the expiry date of 22 March 2022 ("Guarantee").
4) the Credit is disbursed after the collateral indicated in section 3 letters b) -
d) above is submitted to the Bank.
5) Under the terms of the Guarantee, the Credit cannot be used to settle financial liabilities.
6) The agreement does not provide for additional contractual penalties beyond the standard provisions applied by the Bank in such agreements.
The Company will use the proceeds from the acquired Credit to finance part of the costs associated with the execution of an investment project in Warsaw at Kasprzaka/Prymasa Tysiąclecia Street " Bliska Wola" Stage: DK and DM.
The Company considered the information about the fact of being granted a bank loan in this amount to be important information in the current economic situation.