CR 48/2017 Annex to a significant agreement

Annex to a significant agreement                                                                                                                                                                                                                            

Current report no: 48/2017

Date: 30 October 2017, 12:43 pm

The Management Board of LPP SA informs that, today, i.e. 30 October 2017, LPP SA and Raiffeisen Bank Polska SA have signed an annex to the to the credit limit agreement (multi-option credit line) dated 12 July 2002.

Upon the Company’s application, the total limit for utilising specific products has been decreased from PLN 280 mln to PLN 180 mln, and the period for utilising specific products has been prolonged as follows:

1)   overdraft – the agreement has been prolonged by 30 November 2018,

2)   revolving credit facility – the agreement has been prolonged by 29 November 2018,

3)   the limit for mobilising the guarantees for LPP SA and its subsidiaries – the agreement has been prolonged by 30 November 2020,

4)  the limit for opening letters of credit – the agreement has been prolonged by 29 November 2019.

The lines have been secured with a power of attorney to access the bank account of LPP SA and a blank promissory note.