RB 20/2016 – Amended Credit Agreement with PEKAO, BZ WBK, BGŻ BNP Paribas and ING Bank Śląski

The Management Board of AmRest Holdings SE (“AmRest”) informs in regards to the Credit Agreement (“the Agreement”) referred to in RB 61/2013 dated September 10th, 2013, about signing on May 6th, 2016 an Annex to the Agreement introducing amended and restated version of the credit agreement („the Amended Agreement”) between AmRest, AmRest Sp. z o.o. („AmRest Poland”) and AmRest s.r.o. („AmRest Czech”) – jointly „the Borrowers” and Bank Polska Kasa Opieki S.A.,  Bank Zachodni WBK S.A., Bank BGŻ BNP Paribas S.A. and ING Bank Śląski S.A. – jointly „the Lenders”. AmRest Poland and AmRest Czech are 100% subsidiaries of AmRest.

Based on the Amended Agreement the Lenders grant to the Borrowers an additional credit tranche (“Tranche E”) in the amount of EUR 50 million and increase revolving credit tranche (“Tranche D”) by PLN 100 million. The amount granted within Tranche E is dedicated to finance or refinance costs of M&A activities, while increased revolving credit is to finance working capital and capital expenditures.

The tranches are provided at the variable interest rates and other terms of the traches are consistent with the market conditions. All Borrowers bear joint liability for any obligations resulting from the Agreement.

Both tranches are to be repaid in full by September 10th, 2018.

The Amended Agreement was defined as significant agreement because its value exceeds the level of 10% of AmRest equity.

Legal act:

§ 5 (1) (3) of the Ordinance of the Minister of Finance on Current and Periodical Information Submitted by Issuers of Securities and the Requirements for the Recognition as Equivalent of the Information Required under the Laws of Non-Member Countries of 19th February 2009 (Dz.U. 2014 item 133)