Management Board Report on the activity of the JSW S.A. Capital Group for 2012
3.7. Information on granted loans and sureties and received sureties and guarantees
As at the last day of the reporting period, the Group had the following open bank guarantees:
for the amount of PLN 3.0 million valid until 31 December 2013 for general collateral for tax liabilities which have arisen or may arise on account of excise tax,
for PLN 2.6 million valid until 30 August 2013 in favor of the Head of the Customs Office in Rybnik, guaranteeing the repayment of liability on account of deferred excise tax,
guarantees for the total amount of PLN 4.3 million constituting collateral for repayment of loans obtained from the Voivodship Fund for Environmental Protection and Water Management in Katowice,
for PLN 1.0 million valid until 4 September 2013 for repayment of contractual obligations.
Moreover, as at 31 December 2012, the Group had three open insurance guarantees for the total amount of EUR 15.0 million, granted at the request of a Group company to secure proper performance of contracts, with the term of validity of the longest guarantee expiring on 31 March 2017.
Still open is a surety granted in 1990 by the Krupiński mine for up to PLN 0.3 million to secure a bank loan taken by Górnicza Spółdzielnia Mieszkaniowa [Miners’ Housing Cooperative], maturing in 2030.
