Search phrase

Investor relations

Current reports

Current report 53/2020

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 26 June 2020 the Company concluded an agreement with Alior Bank S.A. with its registered office in Warsaw ("Bank") on the basis of which the Bank granted the Company an overdraft in the amount of PLN 33.000.000,00 ("Credit") intended for financing the current activity of the Company.

Credit material terms and conditions:

1) the final repayment date of the Credit has been set at 25 June 2022.

2) the interest rate is variable in monthly periods based on WIBOR 3M base rate increased by 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 66,000,000.00 ( say: sixty six million 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) Power of attorney to bank accounts maintained by the Bank for the Company.

c) Blank promissory note along with a promissory note declaration to the benefit of the Bank

d) Guarantee in the amount of PLN 26,400,000.00 (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 25 September 2022 ("Guarantee").

4) the Credit is disbursed after the collateral indicated in section 3 letters a) -

d) above is submitted to the Bank.

5) The Credit may not be used to settle financial liabilities.

6) The agreement does not provide for additional contractual penalties beyond the standard provisions of the Bank's Regulations with respect to past due liabilities.

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.