The Management Board of Kredyt Inkaso S.A. with its registered office in Warsaw („Company”, „Issuer”) informs that today, i.e. on 5 January 2021, it became aware that funds from the Issuer’s group, i.e. Kredyt Inkaso I Non-standardised Securitisation Closed Investment Fund („Fund 1”) and Kredyt Inkaso II Non-standardised Securitisation Closed Investment Fund („Fund 2”) concluded on 31 December 2020 with ING Bank Śląski S.A. with its registered office in Katowice („Bank”) an agreement supplementing the previously concluded credit agreements, of which the Company informed in the current report no. 29/2018 of 21 May 2018.
The consequence of the conclusion of the supplementary agreement is the creation of a single credit agreement to which Fund 1 and Fund 2 are parties, the most important elements of which are:
1. the limit of the amount of funds made available under the credit agreement remains unchanged and amounts to PLN 140,000,000 for Fund 1 and Fund 2 in total,
2. the Fund 1 and Fund 2 may use the funds obtained to finance the purchase of new receivables portfolios,
3. the margin is 3.8% per annum,
4. the lending period was extended from 36 months to 60 months. The maximum date until which the final deadline for the availability of the credit line may be extended was extended until 31 August 2031, unless the Bank or Fund 1 and Fund 2 make and submit a declaration earlier that they do not wish to continue the agreement. Such a declaration may be made and submitted for the first time at least 35 days before 31 August 2021 and thereafter every 12 months.
5. the type of collateral for the Bank’s credit receivables (conditional assignment of receivables) remains unchanged,
6. the change in the structure of the Fund 2 collateral in the form of an increase in the limit of portfolios of receivables acquired by the Fund 2 before 1 March 2012 from no more than 30% to no more than 50%,
7. the establishment of an additional collateral by the Fund 1 and Fund 2 in the form of a conditional assignment of receivables in the amount of PLN 80 million,
8. the establishment of collaterals for the Bank remains unchanged and amounts to not less than 150% of the value of the credit limit used by each of these funds.
The remaining terms and conditions do not deviate from market standards and did not change significantly compared to the previously concluded credit agreements notified by the Company.
