Agreement on Common Terms and Conditions of Financing
(Current report no. 65/2020)
Article 17 sec. 1 MAR - confidential information
The Management Board of CCC S.A. based in Polkowice (hereinafter: "Issuer"), with reference to the current report no. 59/2020 of 15 September 2020 and to the current report no. 24/2020 of 24 April 2020 hereby informs about the conclusion as of today with Bank Handlowy w Warszawie S.A, Bank Millennium SA, BNP Paribas Bank Polska SA, Bank Polska Kasa Opieki SA, mBank SA, Powszechna Kasa Oszczędności Bank Polski SA and Santander Bank Polska SA. (hereinafter referred to as the "Lenders") of the Agreement on the Common Terms and Conditions of Financing (hereinafter referred to as the "Agreement on the Common Terms and Conditions of Financing").
The Agreement on Common Terms and Conditions of Financing concerns granting the Issuer two-year renewable credits by the Lenders up to the total amount of 250,000,000.00 PLN in agreed proportions. The credits will be secured, among others, by sureties up to the total amount of PLN 200,000,000.
(80% of the Lenders' exposure) granted by Bank Gospodarstwa Krajowego ("BGK"). The loans will also be secured by a lien and mortgages on selected assets and a guarantee of the following entities from the CCC Group: CCC.eu sp. z o.o., Gino Rossi S.A., CCC Factory Sp. z o.o., CCC Shoes&Bags Sp. z o.o. The credit will be made available on the basis of the Agreement on Common Terms and Conditions of Financing and bilateral agreements with the Lenders for granting particular parts of the financing. Bilateral credit agreements with individual Lenders have also been signed today.
The agreement contains a number of standard regulations, such as standard terms and conditions for the use of the credit, rules of voluntary early repayment, declarations, commitments and cases of breach, establishment of security, dividend payments and share redemption, conditions for incurring financial debt and regulates inter-creditor issues.
The agreement is an element of the plan implemented by the Issuer to stabilize the Group's financing, related to the negative effects of the coronavirus pandemic, which is part of the strategy consistently implemented and communicated by the Issuer in this respect.
1/ Marcin Czyczerski - President of the Management Board
2/ Karol Półtorak - Vice-President of the Management Board