Credit Facility Agreement of the Issuer’s Subsidiary
The Management Board of Echo Investment S.A. (hereinafter: the “Issuer”) reports that on 22 July 2020 a subsidiary of the Issuer, MIDPOINT 71 – CORNWALL INVESTMENTS spółka z ograniczoną odpowiedzialnością – s.k.a., with its registered office in Kielce (KRS 0000482787) (hereinafter: the “Company”)
entered with POWSZECHNA KASA OSZCZĘDNOŚCI BANK POLSKI S.A., with its registered office in Warsaw (KRS 0000026438) (hereinafter: the “Bank” )
into a credit facility agreement to finance the Midpoint 71 office project in Wrocław (hereinafter: the “Credit Facility Agreement”).
Funds received under the Facility Agreement are as follows:
Amount of Construction Credit Facility: EUR 54,400,000
Amount of Investment Credit Facility: EUR 54,400,000
Amount of VAT Credit Facility: PLN 7,000,000
Construction Credit Facility: until 30 June 2023
Investment Credit Facility: until 30 June 2026
The Investment Credit Facility and the Construction Credit Facility bear interest at a variable interest rate (EURIBOR), increased by the Bank’s margin. The VAT Credit Facility bears interest at a variable interest rate (WIBOR), increased by the Bank’s margin.
The agreement provides for the requirement to meet standard conditions precedent to the disbursement of the above-described credit facilities applicable to such transactions, including the provision of security instruments and the obligation to fulfill, after the drawdown of the above-mentioned credit facilities, conditions subsequent which are also typical for transactions of this kind.
Legal basis: Article 17, sec. 1 of MAR – Confidential Information.