21.12.2012
Conclusion of loan agreement between Bank Millennium SA and European Bank for Reconstruction and Development (EBRD)
On 20th December 2012 an agreement was concluded between the Bank Millenium SA ("Bank") and the European Bank for Reconstruction and Development (EBRD), concerning mid-term loan extended to Bank Millennium SA, for total amount of PLN 60 million, within the EBRD's PolSEFF programme (Polish Sustainable Energy Financing Facility), implemented in Poland.
The loan will be used for financing by Bank Millennium of projects of its SME clients in the field of energy efficiency or renewable energy, covering inter alia investments in industrial energy efficiency improvements, energy efficiency and/or renewable energy measures in commercial buildings and small-scale renewable energy production. Financing of investments in question will be supported by a comprehensive technical assistance extended to SME clients, as well as grants financed by the European Union.
Interest rate of the loan is based on reference WIBOR rate and margin specified in the agreement. The loan is scheduled for final repayment by the Bank within 4 years from the date of the agreement. Disbursements of funds within the facility will take place after fulfilment by the Bank, as borrower, of technical and legal conditions defined in the agreement ("Conditions Precedent").
The loan in question constitutes an extension of the first, still active finance agreement concerning PolSEFF, concluded between Bank Millennium and EBRD on 1st December 2010, within which EBRD made available to the Bank a mid-term loan for total amount of EUR 35 mln. Within proceeds from this loan financed were till date – or are at the stage of finalisation of financing - circa 300 energy efficiency related investment projects of SME clients (mostly in a form of leasing contracts).
Interest rate of the loan is based on reference WIBOR rate and margin specified in the agreement. The loan is scheduled for final repayment by the Bank within 4 years from the date of the agreement. Disbursements of funds within the facility will take place after fulfilment by the Bank, as borrower, of technical and legal conditions defined in the agreement ("Conditions Precedent").
The loan in question constitutes an extension of the first, still active finance agreement concerning PolSEFF, concluded between Bank Millennium and EBRD on 1st December 2010, within which EBRD made available to the Bank a mid-term loan for total amount of EUR 35 mln. Within proceeds from this loan financed were till date – or are at the stage of finalisation of financing - circa 300 energy efficiency related investment projects of SME clients (mostly in a form of leasing contracts).