GetBack with PLN 300 mln deal on financing

WSE-listed debt collector GetBack signed a term sheet with an unnamed foreign bank for up to PLN 300 million in 4-year variable rate financing and expects to sign the relevant credit agreements within 8 weeks, GetBack said in a market filing. “The term-sheet contains detailed requirements regarding the financial and property situation of GetBack and the fund, which must be met after granting financing, provisions regarding GetBack's liabilities and a fund aimed at reducing the commitment to financing in case of failure to meet these requirements. encountered in this type of financing,” GetBack said. The means will be allocated for the refinancing of debt in a GetBack fund as well as for debt portfolio purchases. Furthermore, the debt collector is in talks regarding another PLN 150 million financing with the same bank.