WARSAW: Poland’s second-largest energy firm state-run Tauron Polska Energia issued bonds worth 2.25 billion zlotys ($562.42 million) to re-finance debt, it said on Monday in a statement. New bonds maturing in 2020 were bought by several lenders such as Bank BGZ BNP Paribas, Bank Handlowy, Bank Zachodni WBK, ING Bank Slaski, mBank and Bank PKO BP.
Tauron is the most indebted power company in Poland with debt of 9.7 billion zlotys at the end of 2015. It has said it plans to invest 37 billion zlotys by 2023, and it has already bought the Brzeszcze coal mine in the south of the country, which was once owned by state-controlled ailing mining group Kompania Weglowa.
The conservative Law and Justice party (PiS), which won parliamentary elections in October, has taken over the task of putting together a rescue plan for Kompania, the European Union’s biggest coal producer.
PiS wants to merge Poland’s coal miners with power producers. State-run energy firms include such companies as PGE Polska Grupa Energetyczna, Energa, and Enea.
