Companies from the PKP PLK Group, including Trakcja, concluded a cash pooling agreement with PKO BP

Trakcja received information about the completion of the process of signing intra-group financing agreements, including an agreement between companies from the PKP Polskie Linie Kolejowe (PKP PLK) group, the subject of which is to provide a cash pooling system, and an agreement between companies from the PKP PLK Group, Trakcja and PKO Bank Polski for the organization of physical cash pooling, Trakcja reported. The concluded agreements are aimed at enabling the participants to effectively finance their current working capital needs.

“The parties to the cash pooling agreement are: the issuer acting as the agent of the agreement, PKP Polskie Linie Kolejowe […] and the parties being participants: Zakład Robót Komunikacyjny – DOM w Poznań […], Pomorskie Przedsiębiorstwo Mechaniczno-Torowe […], Przedsiębiorstwo Maintenance of Railway Infrastructure in Krakow […], Dolnośląskie Przedsiębiorstwo Rozwoju Transport Infrastruktury DOLKOM […]. The parties to the contract with the bank are the same. The value of the agreement is PLN 100 million – this is the total amount that the participants will credit their bank accounts under the agreement.

The agreement was concluded for a definite period, i.e. until June 30, 2024, with the option of extending it for another 12 months at the mutual consent of the parties.

PLK is entitled to a monthly remuneration from the company for providing the security. Interest will be charged based on WIBOR 1M for the capital used by the company. The agreement with the bank regulates the organization of joint management of financial liquidity and was concluded for the period identical to the agreement.

The company informs about the conclusion of the above agreements because it will significantly affect the management of financial liquidity.

Trakcja is a company operating in the infrastructure construction sector in Poland and abroad. It belongs to PKP PLK. Its consolidated sales revenues reached PLN 1,502 million in 2022.

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