ELEKTROBUDOWA SA Amendment to the loan agreement

The Management Board of ELEKTROBUDOWA SA inform that on 22 July 2014 an Amendment to the loan agreement in the form of multi-purpose credit limit, with Powszechna Kasa Oszczędności Bank Polski Spółka Akcyjna based in Warsaw was signed.

By this Amendment the limit of the multipurpose credit facility (further: "Limit") was increased up to the amount 307.193.750,00 PLN (three hundred and seven million one hundred ninety three thousand seven hundred and fifty Polish zloty only).

Within the Limit, PKO BP SA has provided the lender a possibility to use:1) overdraft in the current account up to the amount of 25.000.000,00 PLN to finance current liabilities resulting from the company's business operations,2) bank guarantees provided in national and foreign markets, against applications for guarantee issue or based on trade contracts, up to the amount of 120.000.000,00 PLN,3) documentary letters of credit in national and foreign markets, up to the amount of 5.000.000,00 PLN to secure commercial transactions and the concluded contracts,furthermore, within the Limit, the Bank has issued two guarantees in the national market, whose beneficiary is Tauron Ciepło SA, based on the contract for "Construction of a New Heating Unit in EC Tychy" made between the Company, the Customer and Tauron Ciepło SA, the Beneficiary, up to the amount of 182.193.750,00 PLN.The current account overdraft bears interest at the floating interest rate based on WIBOR 1M plus Bank's margin.Availability of the Limit - until 20 February 2015.The Limit is collaterized by:1) assignment of monetary receivables from contracts concluded by the Company, in the amount equal at least to the sum of guarantees issued within the Limit,2) 2 blank promissory notes including promissory note agreement,3) collateral mortgage up to 461 million PLN, written on the perpetual usufructary right to the real property situated at 12, Porcelanowa Street, Katowice, the land register of which is maintained by the District Court in Katowice,4) assignment of monetary debt associated with the insurance of the real property mentioned in item 3 above.

The terms of the multi-purpose loan agreement do not differ from standard market terms used in this type of agreements.The significance criterion concerning the agreement is an aggregate value of the Agreement including its Amendments, which exceeds 10% of equity of ELEKTROBUDOWA SA.Pursuant to § 5 item 1.3 of the Regulation of the Minister of Finance dated 19 February 2009 on current and interim information.

More information on page: biznes.pap.pl

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