Credit for Budimex

MediaHUB office building in Łódź
MediaHUB office building in Łódź
Budimex S.A. company has signed an appendix to a credit agreement that was concluded with Bank Handlowy S.A. amounting to 50 million PLN.

Budimex is one of the largest construction companies on the Polish market. For over 40 years it has been active in infrastructure and building industry, especially in building, environmental, industrial, and energy construction. The company is also engaged in facility management and waste disposal. Since 1995 Budimex has been listed on the Warsaw Stock Exchange. Annual income of the company is estimated at about 5 billion PLN. Spanish company Ferrovial is Budimex's trade investor. Budimex Group includes Budimex Nieruchomości, Przedsiębiorstwo Napraw Infrastruktury, Budimex Danwood and Mostostal Kraków.

On January 28th, 2013, Bank Handlowy w Warszawie S.A. and Budimex S.A. signed an appendix to a credit agreement concluded on February 8th 2011. Under the agreement the bank provides the company with an overdraft up to 50 million PLN until February 5th, 2014.

Budimex will pay Bank Handlowy interests on the loan in the amount calculated according to the base rate WIBOR1M  plus the bank's margin. The authority granted to the bank to manage the company's account run by the bank is the collateral for repayment of the credit. Additionally, Budimex signed a declaration of voluntary submission to enforcement in the manner stipulated in the provisions of the Banking Law Act (Ustawa Prawo Bankowe).

The value of the appendix exceeds 10% of the equity of Budimex SA.

The company, being the general contractor, realized such projects as MediaHUB in Łódź, Pixel in Poznań and PLL LOT office building in Warszawa at 17 Stycznia Street. 

Tags: Budimex
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