Mostostal Warszawa signed two new agreements for guarantee lines
In line with previous expectations, Mostostal Warszawa has gained two new agreements for guarantee lines since the beginning of 2016. On January 18, the agreement with Societe Generale was signed for the line for a value of PLN 10 million with the validity up to 4 years. Later, on February 17, the Company has signed the agreement with Bank Zachodni WBK of Santander Group for a value of PLN 45 million with the validity up to 6 years.
Within these lines Mostostal Warszawa can acquire: bid bonds, performance bonds, warranty and advance payment guarantees. This will allow further development of the Company and obtaining new contracts.
- We are pleased with the trust that banking sector placed in Mostostal Warszawa – said Carlos Resino Ruiz, the Group’s CFO. - Currently we are holding the negotiations with representatives of other banks in order to acquire new guarantee limits. It will allow to strengthen Company’s position as one of the leaders of the Polish construction market – added Anna Szolce, Head of Finance Department.