Newag to get a PLN 170 mln credit line from BZ WBK

Rolling stock producer Newag has made a deal with Polish commercial lender Bank Zachodni WBK in terms of receiving a credit line of up to PLN 170 million. According to the agreement, Bank WBK will provide Newag with overdraft facility and term loan in total for up to PLN 170 million. "The date of the final repayment is March 31, 2017 for overdraft and January 31, 2017 for the term loan," a statement read. Newag is a Polish company, based in Nowy Sącz, specialising in the production, maintenance, and modernisation of rolling railway stock. In 2015, Newag reported a record level of sales revenue - PLN 1.03 billion.