BITTNET SYSTEMS S.A. (hereinafter referred to as “Company” / “Issuer”) informs the investors about the extension of the credit agreement between Dendrio Solutions and Banca Transilvania (contracted in December 2018) for issuing bank guarantee letters, also supplementing the maximum limit up to RON 2,300,000 under the following conditions:

  • Product type: corporate credit line
  • Maturity: 24 months with the possibility of extension
  • Destination ceiling: issuance of all types of bank guarantees in RON (letters of bank guarantee for contracts, guarantee for participation in bidding procedures, guarantee payment of suppliers, etc.)
  • Interest rate: ROBOR6M+5.6% per year

Guarantees: mortgage on Dendrio Solutions bank accounts at Banca Transilvania and sole shareholder guarantee Bittnet Systems SA.

Dendrio Solutions will use this banking product to not immobilize its own cash for the purpose of issuing letters of guarantee, and to unlock cash from guarantee instruments that have required this in the past. Bittnet Systems is the sole shareholder of Dendrio Solutions.

Current Report nr. 67/2021

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