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December 23, 2020 / 16:38

45/2020 Conclusion of subsequent agreements: for an overdraft and revolving loan by a subsidiary Helios S.A.

Regulatory filing

The Management Board of Agora S.A. with its registered office in Warsaw ("Agora", "Company") in reference to the regulatory filing no. 35/2020 of 24 September 2020, informs that on 23 December 2020 it learned about the conclusion of another overdraft agreement with BNP Paribas Bank Polska S.A. with its seat in Warsaw ("BNP") and another revolving loan agreement with Santander Bank Polska S.A. with its seat in Warsaw ("Santander") (jointly "Banks") by a subsidiary Helios S.A. with a repayment guarantee of 80.0% of the loan by Bank Gospodarstwa Krajowego ("BGK").

The total value of the above loans with a BGK guarantee is PLN 40.0 million, i.e. PLN 20.0 million from each of the Banks.

According to the information provided in the regulatory filing no. 35/2020 of 24 September 2020, the parties, after assessing the financial results of Helios S.A. for the third quarter of 2020 and the economic situation in Poland, agreed to launch a second tranche of financing - for another PLN 40.0 million - for Helios S.A.

Pursuant to the overdraft and revolving loan agreements signed on 23 December 2020 with the Banks and after meeting the conditions for establishing legal security for the repayment of both loans and meeting other requirements usually applied when granting loans of a comparable amount, Helios will have additional credit facility ("Loan") of up to PLN 40.0 million.

The funds obtained may be used to finance the current business activities of Helios S.A., including replacement and development expenditure, excluding refinancing of other debt.

The terms of financing itself and launching of financing, as well as establishing of securities for loans and Helios' obligations during the term of the agreements are similar to those agreed with the first tranche of financing, about which the Company informed in the regulatory filing no. 35/2020 of 24 September 2020.

The period of using the financing from the second tranche of financing was set with both Banks at 24 months from the date of signing the agreements. The loan is to be repaid within 24 months from the date of signing the contract.

Legal basis: art. 17 sec. 1 of the Regulation of the European Parliament and of the Council (EC) No 596/2014 of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directive 2003/124/EC, 2003/125/EC and 2004/72/EC (Journal of Laws EC L 173 of 12 June 2014).

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45/2020 Conclusion of subsequent agreements: for an overdraft and revolving loan by a subsidiary Helios S.A.

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