Brief: British Automotive Holding To Change Financing Terms With mBank Within Two Months

British Automotive Holding w Upadlosci SA

27/08/2020 07:56

Aug 27 (Reuters) - British Automotive Holding SA  BAHP.WA :
    * SAID ON WEDNESDAY THAT ITS UNIT BRITISH AUTOMOTIVE POLSKA
(BAP)
HAS SIGNED ANNEXES TO FINANCING DEAL WITH THE GROUP'S LENDER
MBANK
    * PARTIES AGREE ON DEADLINE OF TWO MONTHS FROM SIGNING
ANNEXES FOR
IMPLEMENTING CHANGE IN FINANCING FORM
    * PARTIES ALSO AGREE ON COOPERATION TERMS FOR INTERIM PERIOD
    * DURING INTERIM PERIOD CURRENT AMOUNT OF REVOLVING LOAN OF
124
MLN ZLOTYS HAS BEEN REDUCED TO 70 MLN ZLOTYS
    * AS A RESULT FROM 26 AUGUST THE TOTAL AMOUNT OF FINANCING
FOR THE
GROUP HAS BEEN SET AT 90 MLN ZLOTYS 
    * HOWEVER, DUE TO PARTIAL REPAYMENT BY BAP OF THE REVOLVING
LOAN,
THE ACTUAL AMOUNT OF FINANCING PROVIDED BY MBANK IS NOW AT 56.9
MLN ZLOTYS, OF WHICH 20 MLN ZLOTYS IS AVAILABLE UNDER OVERDRAFT
FACILITY AND 36,9 MLN ZLOTYS UNDER REVOLVING LOAN 
    * THE DATE OF REPAYMENT OF THE LOANS HAS BEEN SET FOR
OCTOBER 30 

    
    
 Source text for Eikon:  urn:newsml:reuters.com:*:nEM5LwVyWa
    
 Further company coverage:  BAHP.WA  
   


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