Conclusion of a multi-purpose credit limit agreement
(Current report no. 58/2019)
21.11.2019 /Issuer/
Legal basis:
Article 17 sec.1 MAR - Confidential information
The Management Board of CCC S.A. ("the Issuer") informs that today the Issuer and other entities of the CCC Group, i.e. the CCC Group, CCC.eu Sp. z o.o., eobuwie.pl S.A., Gino Rossi S.A. (hereinafter referred to as "Borrowers") concluded a multi-purpose credit limit agreement (hereinafter referred to as "Agreement", "Limit") with Powszechna Kasa Oszczędności Bank Polski S.A. with its registered office in Warsaw, at ul. Puławska 15, 02-515 Warsaw (hereinafter referred to as "Bank").
Under this Agreement, the Bank granted a multi-purpose credit limit of PLN 530,000,000.00 (five hundred and thirty million zlotys) for a period of 36 months, i.e. from 21 November 2019 until 21 November 2022. The period for using the limit expires on 21 November 2022.
Within the Limit, the Bank granted to the Borrowers sublimits for:
1) non-renewable working capital credit up to PLN 400,000,000.00 (four hundred million zlotys), to finance liabilities arising from the performed activity and to repay liabilities under the multi-purpose credit limit agreement of 30 May 2016 concluded between the Bank and the Issuer's subsidiary CCC.eu Sp. z o.o., about which the Issuer informed in the current report, CR No. 24/2016 of 30 May 2016;
2) overdraft facility, limit for bank guarantees and letters of credit up to the total amount of PLN 130,000,000.00 (one hundred and thirty million zlotys).
The Agreement shall be secured by the following collaterals:
1) contractual mortgage up to the amount of 795,000,000.00 PLN (seven hundred and ninety-five million zlotys), on the property rights of the properties belonging to CCC S.A. and eobuwie.pl Logistics Sp. z o.o.,
2) registered pledge with the highest collateral amount of 795.000.000,000,00 PLN (seven hundred ninety five million zlotys) on the sorter, constituting the property of eobuwie.pl Logistics Sp. z o.o. and on the stocks constituting the property of eobuwie.pl S.A.,
3) transfer of receivables under real estate insurance agreements constituting the subject of registered pledge,
4) blank promissory notes issued by each of the Borrowers together with promissory notes declarations,
5) surety under civil law granted by CCC Shoes & Bags Sp. z o.o. and eobuwie.pl Logistics Sp. z o.o.
Other terms and conditions of the agreement do not differ from those commonly used for this type of agreements.
The Management Board of the Issuer decided to publish the aforementioned information due to the significant value of the agreement concluded by the Issuer and entities from the CCC Group with the Bank.
This Agreement is part of the Company's policy of reducing the share of short-term funding to materially increase long-term funding.
Signatures:
1/ Marcin Czyczerski - President of the Management Board
2/ Karol Półtorak - Vice-President of the Management Board