RB-40-2005 Introduction of Amendment to a Multi-purpose Loan Line Agreement
ComArch SA received today a signed amendment to a multi-purpose loan line agreement with Fortis Bank Polska SA, with headquarters in Warsaw.
On the basis of the amendment, the amount of the loan limit increased to 44 million PLN for the period from the amendment signature to 30 December 2005. The loan limit amount will be reduced to 24 million PLN on 31 December 2005. Within the loan framework, ComArch SA can utilize 20 million PLN only as a revolving loan on the current account, which must be repaid by 30 December 2005. Concurrently, additional security provisions were made in the form of transfer of receivables from two contracts being carried out ComArch SA to the amount of the granted revolving loan, including interest rates, bank fees and charges. The company issued information concerning the signing of the agreement for the multi-purpose loan line in report no 16/2005.