The Management Board of Inter Cars S.A. (the “Company”) announces that on November 14th 2016 the Company and its subsidiaries: Inter Cars Marketing Services Sp. z o.o., ILS Sp. z o.o., Lauber Sp. z o.o., Q-Service Truck Sp. z o.o., Inter Cars Česka Republika s.r.o., Uždaroji Akcinė Bendrovė “Inter Cars Lietuva”, Inter Cars Romania S.r.l., Inter Cars Slovenská Republica s.r.o. and Inter Cars d.o.o. as borrowers and sureties, Inter Cars (Cyprus) Limited as a surety, and the following financial institutions: Bank BGŻ BNP Paribas S.A., Bank Handlowy w Warszawie S.A., Bank Polska Kasa Opieki S.A., CaixaBank, S.A. (Spółka Akcyjna) Polish Branch, DNB Bank Polska S.A., ING Bank Śląski S.A. and mBank S.A. executed a term and revolving facilities agreement (the “New Credit Facility Agreement”) under which the Company and Inter Cars S.A.’s subsidiaries listed above as the borrowers will obtain: (1) term facilities of up to PLN 500,000,000.00 (five hundred million złoty), with the final repayment date falling on November 14th 2019, and (2) revolving facilities of up to PLN 600,000,000.00 (six hundred million złoty), with the final repayment date falling on November 14th 2017.
The facilities bear interest at a variable rate, depending, for each interest period, on the WIBOR reference rate, plus the lenders’ margins determined based on the New Credit Facility Agreement (at market levels).
The facilities advanced under the New Credit Facility Agreement will be applied towards repayment of the Company’s and the other Inter Cars Group companies’ existing debt, including repayment of the Company’s debt contracted under the credit facility agreement of July 29th 2009, the execution of which was disclosed by the Company’s Management Board in Current Report No. 29/2009 of July 30th 2009, (the “Existing Credit Facility Agreement”), and towards financing of the Company’s and the Inter Cars Group’s day-to-day operations.
The credit facilities advanced under the New Credit Facility Agreement will be made available once Inter Cars S.A. and Inter Cars S.A.’s subsidiaries which are parties to the New Credit Facility Agreement have fulfilled the conditions precedent provided for therein. The conditions precedent include delivery of documents stipulated in the New Credit Facility Agreement, such as copies of constitutional documents, corporate resolutions, financial statements, tax clearance certificates, certificates of non-default on other public dues and charges, as well as execution of documents serving as the basis for creating security with respect to the credit facilities and submission of applications to register the security (to the extent required by law).
Pursuant to the New Credit Facility Agreement, the Inter Cars Group companies which are parties to the New Credit Facility Agreement provided sureties for repayment of the credit facilities advanced thereunder.
Additionally, the Company’s Management Board announces that on November 14th 2016 Annex 14 (the “Annex”) was signed to the Existing Credit Facility Agreement. Pursuant to the Annex, the lenders agreed to extend the final repayment date of the overdraft facility B, advanced under the Existing Credit Facility Agreement, until December 15th 2016. The Annex was executed to ensure continuity of financing while the New Credit Facility Agreement is being prepared for operational implementation.
Article 17.1 of Regulation (EU) No. 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (the MAR) - inside information.
- Krzysztof Soszyński - Vice President of the Management Board/li>
- Piotr Zamora - Commercial proxy