Current Report No. 11/2016 — 03.06.2016 11:28Execution of annexes to agreements with mBank S.A.
The Management Board of Atende S.A. (the ′Company′) announces that on June 3rd, 2016, the Company received signed annexes dated May 30, 2016 to the agreements on financing the Capital Group concluded with mBank S.A. with its registered office in Warsaw at ul. Senatorska 18 (the ′Bank′).
The annexes concern the following agreements: Agreement on granting an overdraft facility dated June 14, 2011, as amended; Agreement on granting bank guarantees dated June 14, 2011, as amended, and information on the changes in the limit conditions for derivative transactions dated June 30, 2010, as amended. Total maximum limits specified in the annexed agreements amount to PLN 45.2 million.
The Annex with the biggest value is Umbrella Facility authorised overdraft (the ′Agreement′). The signed annex extends the term of the loan agreement until May 31, 2018. The subject of the loan agreement is an overdraft facility up to the amount of PLN 25 million, bearing interest at a variable WIBOR rate for O/N interbank loans, increased by the Bank margin. The purpose of the extended term of the loan is to increase flexibility of financing for trade activity of companies in the Atende Capital Group. The loan is secured with a mortgage with a total value of PLN 42.5 million and a blank promissory note.
The annexes in question do not provide for contractual penalties. Its other terms do not differ from those used by banks in this type of agreements.
The criterion for recognising annexed agreements as significant is their total value exceeding 10% of the Company’s sales revenue for the last four financial quarters.