June 7, 2019 / 5:11 AM / 12 days ago

BRIEF-Zaklady Miesne Henryk Kania Says Bank Handlowy w Warszawie Terminated Credit Agreements

June 7(Reuters) - Zaklady Miesne Henryk Kania SA:

* SAID ON THURSDAY THAT IT HAS RECEIVED A NOTIFICATION FROM BANK HANDLOWY W WARSZAWIE SA REGARDING TERMINATION OF CREDIT AGREEMENTS

* SAID THAT REASON FOR TERMINATION OF THE AGREEMENTS, AS STATED BY THE BANK, WAS THE LOSS OF CREDITWORTHINESS BY THE COMPANY AND THE THREAT OF BANKRUPTCY

* SAID THAT ACCORDING TO THE BANK, THE COMPANY’S DEBT UNDER ONE CREDIT AGREEMENT AMOUNTS TO 90.4 MILLION ZLOTYS, WHILE UNDER ANOTHER TO 4.8 MILLION ZLOTYS

* BANK HANDLOWY W WARSZAWIE SAID IN A SEPARATE STATEMENT THAT IT HAS TERMINATED CREDIT AGREEMENTS WITH ONE IF ITS CORPORATE CLIENTS

* BANK HANDLOWY W WARSZAWIE SAID THAT ITS TOTAL EXPOSURE RELATED TO FINANCING OF THE CLIENT AS AT JUNE 6 AMOUNTED TO 124.5 MILLION ZLOTYS AND WAS MOSTLY SECURED

* BANK HANDLOWY W WARSZAWIE SAID THAT IT HAD FILED A MOTION TO OPEN REHABILITATION PROCEEDINGS FOR THE CLIENT

Source text for Eikon:

Further company coverage: (Gdynia Newsroom)

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