Mostostal Warszawa signs a new agreement for guarantee line with Credit Agricole Bank Polska
On 14 December 2015, Mostostal Warszawa and Credit Agricole Bank Polska signed an agreement for new guarantee line for construction contracts amounting to PLN 40 million.
This line will allow the Company to issue guarantees for new construction contracts which will be awarded to the company in the following months. The guarantee line will enable the Company to issue bid bonds, performance bonds, warranty and advance bonds with the validity up to 7 years.
“Throughout the 2015 fiscal year, Mostostal Warszawa signed new guarantee lines or extended existing ones for a value of PLN 178 million, enabling the company to actively take up new business opportunities that will arise during the following months. We look to increase credit capacity of the Group before end of the year” - says Carlos Resino, the Group’s CFO emphasising the positive results of all companies forming the Mostostal Warszawa Group (Mostostal Kielce, Mostostal Płock, Mostostal Power Development and AMK) announced in Q3 2015, with PLN 24.8 million in EBT (Earnings Before Tax), as well as the favourable perspectives of the 2015 FY closure according to which MOSTOSTAL WARSZAWA will strengthen its position as a leader in the Polish construction market. New agreement confirms the trust the banking sector has for the Company.