FIDEA helps ERBUD close derivative transactions limiting growing loss 21 November 2008
On 21 November, 2008 ERBUD closed all outstanding derivative transactions with Bank Millennium suffering a total loss of PLN 47.450.000.
Thanks to an expeditious and efficient advice of FIDEA ERBUD has substantially limited its financial loss and has negotiated with Bank Millennium favorable terms of accompanying agreements. Costs of closing of the derivative transactions have been limited to a minimum and the repayment of financial obligations towards the bank has been divided into several monthly instalments permitting ERBUD to safely continue its operations.