Closing of FX options of Erbud
Financial advisory to Erbud SA, an important player on the Polish construction market, on the closing of derivative transactions, resulting in significant limitation of financial losses on these transactions
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.
Construction and property development