The Board of Directors in its meeting today, authorizes a permanent rotating borrowing quotas, for different credit operations, with different entities, in this sense, it will be possible to renew bank credits, derivatives and intercompany credit, as well as replace
it or make new credit operations, like this
- Banking credits: Renew with the same entities or replace with any other financial institution the current credit operations for a maximum value up to COP 250 thousand millions with a deadline up to 24 months, disbursable in pesos or dollars. Also, carry out new credit operations with national or foreign entities, up
to a maximum value of COP 300 thousand with a deadline up to 24 months.
- Intercompany Credits: Ratify the quota for loans or operations with related companies up to USD 40 million or its equivalent in pesos.
- Derivatives: Renew or replace current derivative transactions for a maximum value up to USD 15 million. Also, carry out new derivative transactions with domestic or foreign entities for up to USD 250 million.
- Guarantees: Renew the guarantees granted for the current obligations of its subsidiary Odinsa Holding up to USD 158.3 million, with the same entities or any other financial entity. In addition, to support new credit operations of the Odinsa Holding subsidiary with national or foreign entities, up to USD 50 million.
It should be noted that the previous authorizations are requested if required, but they correspond to simple quotas, which may or may not be used depending on the needs of the Company..
Medellín, 10 of december 2018