Poland - Credit granting services

Description

The subject matter of the contract is to grant a long-term loan in the amount of PLN 12,500,000.00 to the City of Szczecinek for partial financing of the budget deficit planned in the budget of the City of Szczecinek for 2020, with the following characteristics:1) the amount of the loan: 12,500,000.00 PLN;2) credit period: from May 2020 to 31 December 2029;a) credit disbursed in tranches until 31.12.2020 on the basis of applications of the Orderer submitted to the bank until 28.12.2020;b) credit amount not disbursed until the end of this year, will not be used. The bank shall not charge the Ordering Party with additional costs due to the failure to use the entire credit; c) the Ordering Party undertakes to take out a credit in the amount of at least PLN 10,000,000.00; 3) the credit shall be repaid monthly in the following installments and dates:a) From January 2021 to November 2029, in 107 equal installments, in the amount of 115 740,00 PLN within the deadline falling on the last day of a given month,b) On December 31, 2029, 1 installment in the amount of 115 820,00 PLN;4) Interest payment will be made within monthly dates from the actually used credit within the deadline falling on the last day of a given month;5) The costs of credit service are: a) preparatory commission;b) credit interest rate.The commission will be paid each time from the amount of activated tranches on the day of the loan tranche activation.The loan interest rate will be variable, established on the basis of a base rate increased by the contractor's margin. The base rate is established for a period of 1 month and is the WIBOR rate, for 1-month deposits, announced on the 28th or last business day before this date, if no quotation is made on a given day, and it applies to interest calculated from the 1st of the next month.The contractor's margin is fixed during the crediting period (contract term);6) a blank promissory note together with a promissory note declaration will be a security for the loan repayment;7) the bank undertakes to guarantee acceptance of early repayment of a part or the entire loan without charging the Orderer with additional costs, after the Orderer has notified the bank within 7 days of his intention to make such repayment.

Opportunity closing date

07 April 2020

Value of contract

to be confirmed