April 24, 2020 / 9:36 AM / a month ago

BRIEF-CCC Agrees On Settlements With Financing Institutions

April 24 (Reuters) - CCC SA:

* SAYS CREDITOR CREDIT COMMITTEES HAVE AGREED TO CONCLUDE DEALS WITH THE COMPANY AND THE GROUP’S SELECTED UNITS (DEBTORS) ON SPECIFIC TERMS OF MAINTAINING FINANCING CONCERNING THE COMPANY’S AND GROUP’S TOTAL FINANCIAL LIABILITIES

* CREDITORS UNDER AGREEMENT ARE BNP PARIBAS BANK POLSKA, BANK HANDLOWY, BANK MILLENIUM, PEKAO, MBANK, PKO BP, SANTANDER BANK POLSKA AND SANTANDER FACTORING

* EOBUWIE.PL AND ITS UNIT ARE NOT PART OF THE DEAL

* THE DEAL AFTER ITS CONCLUSION WILL REMAIN IN FORCE TILL APRIL 30, 2021

* EACH OF THE CREDITORS WILL CONDUCT CREDIT ANALYSIS REGARDING GRANTING THE COMPANY ADDITIONAL FINANCING SECURED BY A 200 MILLION ZLOTY GUARANTEE FROM BANK GOSPODARSTWA KRAJOWEGO (BGK)

* THE COMPANY’S APRIL 16 APPLICATION FOR A 250 MILLION ZLOTY LOAN TO THE GROUP FROM PKO BP, WHICH WILL ACT AS CREDITORS COORDINATOR, IS IN THE PROCESS OF CREDIT PROCEDURE AND CONFIRMATION FROM BGK OF THE TERMS OF THE SURETY

* THE DEAL PROVIDES FOR MAINTAINING AVAILABILITY OF FINANCIAL PRODUCTS, ENSURING AVAILABILITY ON EXISTING TERMS AND CONDITIONS OF LIMITS GRANTED ON THE BASIS OF APPLICABLE DOCUMENTS AND EXTENDING AVAILABILITY PERIOD OF FINANCIAL INSTRUMENTS, INCLUDING AVAILABILITY PERIODS: CREDITS, FACTORING, GUARANTEE LIMITS AND LIMITS FOR FORWARD TRANSACTIONS, GRANTED, DELIVERED OR ISSUED BY THE CREDITORS TO THE COMPANY AND LIABILITIES UNTIL 30 APRIL 2021

* TOTAL AMOUNT OF FUNDING AVAILABLE AT 31 MARCH 2020 WILL REMAIN AVAILABLE FOR THE PERIOD UNTIL 30 APRIL 2021

* PARTIES AGREED TO MAINTAIN PREVIOUS ARRANGEMENTS CONTAINED IN A MARCH 31 AGREEMENT

* ALL OTHER ARREARS ARISING AFTER 20 MARCH ARE DUE BY 30 SEPTEMBER 2020 AND THE CONDITIONS FOR THEIR REPAYMENT AFTER THAT DATE HAVE BEEN SPECIFIED

* ALSO BY 30 JUNE 2020 THE COMPANY SHOULD OBTAIN AN ADDITIONAL AMOUNT OF NO LESS THAN 300 MILLION ZLOTYS FROM THE ISSUE OF NEW SHARES

Source text for Eikon:

Further company coverage: (Gdansk Newsroom)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below