CR 27/2017 Annex to a significant agreement

Annex to a significant agreement

Current report no: 27/2017

Date: 21 June 2017

Hour: 2:36 pm

The Management Board of LPP SA informs that, on 21 June 2017, LPP SA and PKO BP SA signed an annex to the multi-option credit line agreement dated 24 June 2005.

Under the said annex, the current utilization period has been prolonged by 23 June 2020. The total limit of the multi-option credit line amounting to PLN 280 mln (remaining unchanged compared to the previous annex) may be utilised as:

– overdraft up to PLN 200 mln throughout the utilisation period and repayments up to 12 months based on LPP SA’s instruction and confirmation by PKO BP SA of the creditworthiness of LPP SA,

– letter of credit line up to PLN 280 mln with a 12-month tenor,

– guarantee credit line up to PLN 70 mln with a 15-month tenor.

The total value of all products may not exceed the allocated limit of PLN 280 mln.

The said limit has been secured with a blank promissory note.