CR 36/2016 The master agreement

The master agreement 

Current report no.: 36/2016

Date: 23.06.2016

The Management Board of LPP SA announces that today it has received a notification from PKO BP SA, stating that the period for use of overdraft facility (as a part of the multi-purpose credit line) was extended for the next annual period, i.e. until 23 June 2017.

The total limit of all facilities is PLN 280 mln, for the individual products:
1. Overdraft facility to the amount of PLN 230 mln – agreement extended by 23 June 2017;
2. Limit for guarantees granted by LPP SA and its subsidiaries to the amount of PLN 280 mln – the expiry date 23 June 2017;
3. Limit for the opening of letters of credit to the amount of PLN 280 mln – the expiry date 23 June 2017.

The criterion of declaration of the overdraft facility is that the agreements value exceeded 10% of the equity capital of the LPP SA.