Improvement of the Group bank financing

BITTNET SYSTEMS S.A. (hereinafter referred to as “the Company”) informs the investors about the improvement of financing structure of the Group with the following operations regarding banking loans:

1.      Early repayment by Bittnet Systems S.A. of a loan: RON 4.5 million contracted in August 2017 from ProCredit Bank;

2.      Signing of a revolving-overdraft by Dendrio Solutions SRL from ProCredit Bank with the following conditions:

·         Credit amount: RON 4,500,000

·         Destination of facility: financing the working capital and current activity

·         Maturity: 24 months

·         Interest rate: ROBOR3M +2.4% per year

·         Guarantee structure:

–          Cash collateral: 10% of the facility’s value

–          Guarantee from Bittnet Systems S.A.

–          Guarantee under the “SME Initiative” program funded by the European Union through ERDF and “Horizon 2020” and by the European Investment Fund and European Investment Bank

–          Mortgage on the Dendrio Solutions SRL bank accounts at ProCredit Bank

3.      Extension by Elian Solutions SRL of the revolving-overdraft facility in amount of RON 224,000 contracted from Unicredit Bank:

·         Reimbursment method: at maturity;

·         Maturity facility: 6 months

·         Interest rate: ROBOR1M+6% per year

·         Guarantee structure: mortgage on current bank accounts opened with Unicredit Bank and the general assigment of receivables.

Previous Post
BITTNET GROUP DISTRIBUIE 5,5 MILIOANE LEI DIVIDENDE SUB FORMĂ DE ACȚIUNI GRATUITE CĂTRE ACȚIONARII SĂI
Next Post
Modificarea structurii de finantare bancara a Grupului
Menu