Polimex Mostostal repays the restructuring loan
Pursuant to the applicable provisions of the Agreement on the Management of Financial Debt of 21 December 2012, as amended, between Polimex Mostostal S.A. and, inter alia, the following banks: PKO BP S.A., PKO S.A. and BOŚ S.A., as well as the Agreement of 20 June 2017 concluded with Bank Millennium S.A., the Company informs that as of 31 December 2019 it repaid the loan receivables in the total amount of PLN 95.5 million, which constitutes 50% of the outstanding balance resulting from the above-mentioned agreements.
“The timely repayment of the restructuring loan is part of the Company’s strategy. The fulfilment of these commitments on time is a testimony to the Company’s reliability and a strong indicator that Polimex Mostostal is a solid business partner for the financial institutions, insurers and contractors. We have acquired a new portfolio of high-margin projects. We have a strong team of managers and highly qualified and experienced personnel. We are consistently implementing our strategy outlined in the Development Plan. Polimex Mostostal is a strong brand name. This year we will be celebrating 75 years of the market presence. We are and we will remain one of the leaders of the Polish construction industry and a brand recognized across Europe – summarized Krzysztof Figat, the President of the Management Board of Polimex Mostostal.