RB 61/2013 - Credit Agreement with PEKAO, ING Poland, Rabobank and BZ WBK

The Management Board of AmRest Holdings SE (“AmRest”) informs about signing on 10th September 2013 a Credit Agreement („the 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. („PEKAO”), Bank Zachodni WBK S.A. („WBK”), Rabobank Polska (“Rabobank”) and ING Bank Śląski Polska S.A. ("ING Poland") – jointly „the Lenders”. AmRest Poland and AmRest Czech are 100% subsidiaries of AmRest.

Based on the Agreement the Lenders grant to the Borrowers a credit facility in the approximated amount of EUR 250 million.  The facility shall be repaid by 10th September 2018 and is dedicated for repayment of the obligations under the credit agreement  signed 11th October 2010, financing development activities of AmRest and working capital management. The facility consists of four tranches: Tranche A, EUR 150 million, Tranche B, PLN 140 million, Tranche C, CZK 400 million and Tranche D granted as a revolving credit facility, PLN 200 million. All Borrowers bear joint liability for any obligations resulting from the Agreement.

The credit is provided at the variable interest rate. AmRest is required to maintain liquidity ratios (net debt/EBITDA, equity/total assets, EBITDA/interests) at agreed levels. In particular net debt/EBITDA ratio is to be held at below 3.5 level and AmRest is required not to distribute dividend payments if the mentioned ratio exceeds 3.0.

Legal act:

§ 56 (1.2) of the Offering Act dated July 29th 2005