March 19, 2020 / 10:58 AM / 14 days ago

BRIEF-CGD Announces Moratorium Loan Repayments For Companies And Individuals Due To Coronavirus

March 19 (Reuters) - Caixa Geral de Depositos SA (CGD) announces that:

* CGD DECIDED TO TAKE A SET OF MEASURES THAT WILL COVER ITS CUSTOMERS WITH ACTIVE CREDITS DUE TO COVID 19

* DECIDE TO ACCEPT THE READJUSTMENT OF MONTHLY INSTALLMENT PAYMENTS FOR MEDIUM AND LONG-TERM CREDITS OF COMPANIES FOR A PERIOD UP TO SIX MONTHS

* FOR COMPANIES OR ENTITIES IN THE HEALTH AND SOCIAL SECTOR, IT WILL SIMPLIFY THE DECISION TO EXTEND THE TOTAL TERM OF REAL ESTATE LEASING OPERATIONS IN FORCE BY 12 MONTHS AND, ALTERNATIVELY, INTRODUCE GRACE PERIODS OF UP TO 12 MONTHS

* FOR THE TRANSPORTATION SECTOR, IT WILL EXTEND THE TERM OF PAYMENT FOR LEASES ON LIGHT VEHICLES AND HEAVY VEHICLES FOR UP TO 12 MONTHS OR ALTERNATIVELY INTRODUCE GRACE PERIODS FOR UP TO 90 DAYS

* FOR THE TOURISM SECTOR, IN ADDITION TO THE GENERAL MEASURES ALREADY OUTLINED, IT WILL EXTEND THE MATURITY PERIODS UP TO AN ADDITIONAL FIVE YEARS, BASED ON SPECIFIC ASSESSMENTS AND BEARING IN MIND SPECIFIC ASPECTS OF THE COMPANIES.

* AS A MEASURE OF SUPPORT FOR SMALL BUSINESSES, CAIXA WILL EXEMPT THE MONTHLY PAYMENT OF ALL AUTOMATIC PAYMENT TERMINALS (TERMINAL DE PAGAMENTO AUTOMATICO), WITH MONTHLY INVOICES UNDER 7,500 EUROS UNTIL MAY 31

* REGARDING INDIVIDUAL CUSTOMERS WITH CREDIT, CGD WILL ASSESS THE POSSIBLE CAPITAL SHORTAGE OF UP TO SIX MONTHS, UPON REQUEST FROM CUSTOMERS, NAMELY FOR HOUSING LOANS (Maria Goncalves, Gdansk Newsroom)

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