Current report 28/2020 Conclusion of a major agreement with PLL LOT S.A.
- publicised on 7 October 2020, at 6:07pm.
The Management Board of Bank Ochrony Środowiska S.A. domiciled in Warsaw hereby informs that on the date of 7 October 2020 an annex was signed to a loan agreement concluded with POLSKIE LINIE LOTNICZE LOT S.A. to increase the available balance up to 220,000,000.00 PLN and to shorten the loan period to 31 December 2020. The loan granted is allocated to the financing of ongoing business needs arising from the outbreak of the COVID-19 pandemic and the financial situation of Polskie Linie Lotnicze LOT SA resulting from that pandemic. In addition to a standard security package applied by the Bank, this loan is collateralised by a deposit of an amount in PLN made by a third party following the procedure stipulated in art. 102 of the Banking Act in the amount of 90% of the loan amount.
The interest rate on the revolving loan is based on the WIBOR rate plus Bank's margin. The pricing terms of this loan do not differ from market terms and conditions for this type of transactions. The prerequisite for disbursing the loan is the Borrower's fulfilment of the loan use conditions.
Legal basis:
Art. 17 Section 1 of Regulation (EU) no. 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC (MAR).
This is an excerpt of the original content. To continue reading it, access the original document here.