RB: 13/2022
Date: 1 April 2022
Conclusion of a financing agreement with European Bank of Reconstruction and Development and Santander Bank Polska S.A.
Legal basis: Art. 17 item 1 of MAR – inside information

Text of the report:

The Management Board of Benefit Systems S.A. with its registered office in Warsaw (the "Company", "Issuer") in reference to the report No. 10/2022 dated 8 March 2022 announces that on 1 April 2022 the Company and certain of its subsidiaries, the European Bank for Reconstruction and Development and Santander Bank Polska S.A. ("Santander") (collectively, the "Banks") signed a long-term financing agreement (the "Agreement") in the amount of PLN 205 million (the "Financing"). The Financing may be additionally increased by up to PLN 35 million.
The subject of the Agreement is providing to the Company Financing by the Banks, which may be used for investment expenditures related to the organic growth of the Issuer's capital group, the development of the MultiLife platform, acquisitions, green investments, refinancing of the Company's existing indebtedness in the form of bank loans in Poland and for general corporate purposes.
Interest will be charged on the Financing at WIBOR 3M plus the Banks' margin. The Financing is provided for the period of five years and will be secured among others on selected assets of the Issuer's capital group. Utilization of the funds will depend on the fulfilment of conditions precedent.
In the remaining scope, the Agreement contains provisions typical for agreements of this kind.
At the same time, the Issuer indicates that apart from the Financing, as of the date of this report, it maintains with Santander, inter alia: a credit line in the amount of PLN 50 million with the possibility to use it in the form of an overdraft in the amount of up to PLN 45 million and a bank guarantee limit of up to PLN 10 million, a bank guarantee limit of PLN 65 million and a loan with an outstanding principal amount of PLN 15 million.