Preformed Line Products Company has announced that its subsidiary, PLP Poland (Belos) S.A., has entered into a non-revolving investment loan agreement with Bank Polska Kasa Opieki Spółka Akcyjna (Bank Pekao S.A.) to fund the construction of a new manufacturing facility. The loan, guaranteed by Preformed Line Products Company, is secured by PLP Poland's current manufacturing plant, the new plant under construction, and all fixed assets within both facilities. The loan allows for an amount of up to PLN100.3 million ($27.4 million) and will bear interest at the one-month Warsaw Interbank Offered Rate (WIBOR) plus 1.0% per annum. However, if the company's funded debt to EBITDA ratio exceeds 3.0 to 1, the WIBOR spread will increase to 1.5%. The loan is set to mature on January 31, 2035, with annual repayment installments starting in 2026.
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