59/2019 - Entry into force of long-term financing documentation

With reference to current report no. 51/2019 of Trakcja PRKiI S.A. (‘Company’) of September 27, 2019 on the conclusion of a number of long-term financing agreements and amendment of the bridge financing documentation (‘Report on long-term financing’) and current report No. 53/2019 of October 3, 2019 on conclusion of a short-term subordinated loan agreement, the Company's Management Board informs that on October 10 this year received a notification from mBank S.A. (‘MBank’), acting as a cooperation agent, about the fulfillment on October 10, 2019 conditions precedent specified in the agreement of common conditions of September 27, 2019 between the Company, Bahn Technik Wrocław sp. z o.o, PRK 7 Nieruchomości sp. z o.o, Przedsiębiorstwo Drogowo Mostowe BIAŁYSTOK SA, Przedsiębiorstwo Produkcyjno - Usługowe ‘DALBA’ sp. z o.o., Torprojekt sp. z o.o., and Przedsiębiorstwo Eksploatacji Ulic i Mostów sp. z o.o. (‘Related Entities’), mBank, Credit Agricole Bank Polska S.A., Bank Gospodarstwa Krajowego, Agencja Rozwoju Przemysłu S.A., Bank Polska Kasa Opieki S.A. (‘Common Terms Agreement’), of which the Company informed in its Report on long-term financing in therefore on October 10, 2019. The Common Terms Agreement entered into force.

In connection with the entry into force of the Common Conditions Agreement and the fulfillment of the other conditions precedent indicated in Annex 9 of 27 September 2019 introducing the amended and unified credit agreement concluded between the Company and Related Entities and mBank, Credit Agricole Bank Polska SA, Bank Gospodarstwa Krajowego, as creditors and Agencja Rozwoju Przemysłu SA, as a lender (‘Credit Agreement’), each of the creditors made available to the Company and Related Entities its participation in the disbursement of loans and issuing guarantees granted under the Credit Agreement in the amounts indicated in the Financing Report the long-term. At the same time, funds from loans and guarantees will be disbursed or granted upon submission by the Company of an appropriate application submitted to mBank (acting as a credit agent).

At the same time, the Company's Management Board informs that on October 10 this year received from AXA Ubezpieczenie Towarzystwo Ubezpieczeń i Reasekuracji S.A., Credendo - Excess & Surety Societe Anonyme, operating in Poland through Credendo - Excess & Surety Spółka Akcyjna Branch in Poland, Generali Towarzystwo Ubezpieczeń SA, Korporacja Ubezpieczeń Kredytów Eksportowych SA, Sopockie Towarzystwo Ubezpieczeń Ergo Hestia SA , Powszechny Zakład Ubezpieczeń SA and UNIQA Towarzystwo Ubezpieczeń S.A. (‘Insurers’) notification on the fulfillment on October 10, 2019 of the conditions precedent indicated in Annex 6 of September 27, 2019 introducing an amended and unified agreement on the unification of selected conditions of guarantee agreements and surety agreement of June 13, 2019 of the year between the Company, Related Parties and Insurers (‘Annex to the Agreement’), about the conclusion of which the Company informed in the Report on long-term financing, therefore, on October 10 this year. The Annex to the Agreement entered into force. On the basis of the Annex to the Agreement, each Insurer will issue a new guarantee based on the application submitted by the Company. 

Legal basis:

Article 17 para. 1 of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC.