Legal basis:
Paragraph 5 item 1 pt. 3 of the regulation of the Minister of Finance on Current and Periodic Information by Issuers of Securities and on the Conditions for Recognising Information as Equivalent to that Required by the Provisions of Law of a State which is not a Member State of 19 February 2009 (“Regulation”)
The report:
The Management Board of Powszechna Kasa Oszczędności Bank Polski Spółka Akcyjna (“Bank”) hereby announces that on 4 July 2012 Bank concluded the agreement (“Agreement”) with a client of the Bank (“Client”) for a total amount of PLN 600,000,000 (six hundred million zlotys).
The Client must pay the final instalment of the loan granted according to the Agreement no later than on 31 December 2015. Interest on the loan granted according to the Agreement is based on the WIBOR rate, plus the Bank’s margin. The claim from the loan granted has been secured with, among others, registered pledges on Client’s assets.
The Bank’s total engagement under credit agreements concluded with the Client and Client’s associates over the past 12 months amounts to PLN 2,796,000,000 (two billion seven hundred ninety six million zlotys). The conclusion of the Agreement represents the fulfilment of the Bank’s duty to announce the conclusion of a significant agreement because the total value of the performances under the Bank’s agreements concluded with the Client and Client’s associates satisfies the criteria discussed in Paragraph 2 item 1 pt. 44 in conjunction with Paragraph 2 item 2 of the Regulation.
The agreement described in current report No. 43/2012 is the highest-value agreement entered into between the Bank and the Client and Client’s associates within a period of less than 12 months of the date of the Agreement.