Poland - Lending services

Description

Granting a long-term loan to the Municipality of Glogow in the amount of PLN 43,031,250.00 for financing the planned deficit and repayment of previously incurred liabilities .
3.1.The loan will be disbursed in tranches, the amount and date of disbursement of which will be adapted to the needs of the Ordering Party, upon its written request within a maximum of 5 working days after its submission, until 31.12.2023 at the latest. 3.2 Term of execution of the contract - credit period: from the date of signing the contract until 31.12.2043. 3.3 Repayment of principal in 80 quarterly installments, including: in 79 equal quarterly installments of PLN 537,891.00 each, at the end of each quarter, starting from 31.03.2024. - and the last principal installment of PLN 537,861.00 payable on 31.12.2043. 3.4 Payment of interest on a quarterly basis on the actual debt, starting from 31.12.2023. Subsequent interest installments calculated and payable on the last day of each quarter. 3.5.If the day of repayment of principal or interest falls on a holiday, the repayment shall be made on the last working day of each quarter. 3.6.Interest rate according to a variable interest rate, which is subject to change according to the following rule: the interest rate consists of a variable WIBOR rate for 3-month PLN interbank deposits, announced on the 15th day of the month preceding the quarterly interest period, and a fixed bank margin. In the absence of quotations of the WIBOR 3M rate for the 15th day, the quotations of the day preceding the day on which the WIBOR 3M rate was quoted shall be used, respectively, to calculate the interest rate. 3.7 Other important information concerning the subject matter of the contract: a) loan collateral: blank promissory note with a promissory note declaration. b) the blank promissory note and the promissory note declaration shall be countersigned by the Treasurer. c) the Contractor shall guarantee the possibility of early repayment of part or all of the debt under the loan without additional costs, after the Contractor has been notified in writing by the Ordering Party of its intention to make such repayment, at least 7 days before the planned early repayment. d) In the event of early repayment of the loan, interest will be calculated for the period of its actual use. e) The Contracting Authority reserves the right not to use part of the credit without giving any reason. f) The Ordering Party reserves the right not to use the credit in full without incurring any fees for this. g) The Bank will not charge a commission for starting the credit. h) The Contractor will not charge any other commissions. i) When calculating interest, we will assume a year consisting of 365/366 days.

Opportunity closing date

01 August 2023

Value of contract

to be confirmed