LC Corp borrows from PKO BP

On 14th of May, LC Corp S.A. entered into a credit agreement with the PKO BP bank. The obtained funds will be spent for the development project of Silesia Star.

The subject of the agreement is partial funding of construction of the office complex with commercial and service facilities at 10 Roździeńskiego Av. The investment credit amounts up to PLN 62 million and up to PLN 3 million as a revolving credit facility related to financing the VAT of the investment.

There will be two stages of the scheme. The first one, which is already underway, comprises the development of the 8-storey building covering 12 710 sq. meters of offices for lease and 1 030 sq. meters of retail spaces. The stage is scheduled to be delivered in the last quarter of 2014. Budimex is conducting the construction work under the contract worth net PLN 59,9 million.