The Management Board of Grupa Kęty S.A. (hereinafter referred to as the Company or the Issuer) informs that on 15 December 2022 it made a decision on the acceptance of the terms and conditions presented by ING Bank Śląski S.A. (hereinafter referred to as the Bank) with regard to a term loan agreement (hereinafter referred to as the Agreement) in the total amount of PLN 200 million, to which a party, apart from the Issuer, is its subsidiary Aluform Sp. z o.o. (hereinafter jointly referred to as the Borrowers), and on the conclusion of that agreement.
The loan will be available until 30 April 2024 and will be paid out in PLN or EUR, based on the loan-drawing applications, whereas the amounts will be repaid starting from 30 April 2024, accordingly to the schedule for the respective draw-downs, with the last repayment instalment for each draw-down to be made on 30 April 2031.
The interest rate on the loan will be variable and will be calculated in reference to a base rate of WIBOR or EURIBOR, accordingly, plus the Bank margin.
The Borrowers shall be jointly and severally liable for the debt under the Agreement. The security for the loan repayment and other liabilities under the Agreement shall be:
a) a declaration of the Borrowers on submission to enforcement in the form of a notarised deed, pursuant to Article 777.1.5 of the Act of 17 November 1964 – the Code of Civil Procedure, up to the amount equivalent to 120% of the loan;
b)first-rank joint contractual mortgage up to the amount of PLN 240,000,000.00 on the selected real properties of the Borrowers, along with the assignment of rights under the property insurance policy;
c)registered pledge on the selected fixed assets, i.e. plant and machinery owned by the Borrowers, up to the highest security amount of PLN 240,000,000, along with the assignment of rights under the property insurance policies.
The loan will be allocated to financing and re-financing of capital expenditure incurred by the Borrowers, including that covered from 1 June 2021.
Other terms and conditions of the Agreement do not differ from the generally applicable standards for such agreements.