14/06/2019 08:16

Trakcja PRKiI Secures Additional Financing

New bank and insurance guarantees, additional credit facilities and a loan from the main shareholder make up the bridge financing programme of Trakcja PRKiI S.A. The Company successfully completed a due diligence process that lasted several weeks and obtained additional funds to conduct its operations.

“We would like to thank the financial and insurance institutions and shareholders for their trust. Refinancing our operations will allow us to accelerate the execution of current contracts and continue building our order backlog, which is currently at its highest level in several years.” – says Marcin Lewandowski, President of the Management Board of Trakcja PRKiI S.A.

Thanks to the conclusion of a series of contracts and agreements, Trakcja PRKiI will obtain financial support for conducting its operations, consisting of: a working capital facility of PLN 31 million, guarantee lines totalling PLN 33 million, and a loan of PLN 20 million from the main shareholder of Trakcja PRKiI – the Spanish group COMSA.

“Nearly 10 financial institutions took part in this complex refinancing process, together with our shareholder COMSA, whom we thank for efficiently working out the agreement. The contracts concluded will give the Company access to PLN 76 million in cash, as well as performance and bid bond guarantees totalling more than PLN 70 million.” – adds Paweł Nogalski, Vice-President of the Management Board and Financial Director of Trakcja PRKiI

At the end of March, Trakcja PRKiI S.A. held a contract backlog of more than PLN 2.2 billion, as well as offers worth  more than PLN 1 billion ranked first in tenders already open.

Informacje dla mediów

Robert Kuczyński
dyrektor ds. komunikacji
r.kuczynski@grupatrakcja.com