Orlen Capital AB - a 100% subsidiary of Poland's biggest oil company PKN Orlen - has issued eurobonds to the tune of EUR 500mn, with maturity date on Jun 30 of 2021 and interest paid annually amounts to 2,5%.
Eurobonds were assigned with credit ratings: from Fitch Ratings Ltd - at the level of BBB- and from Moody's Investor Service - at the level of Baa3.
Orlen Capital AB will re-borrow to PKN Orlen the financial resources gained from the issue.
Joint Lead Managers of the Eurobonds issue were: Banco Santander S.A., BNP Paribas, HSBC Bank plc, UniCredit Bank AG, Mitsubishi UFJ Securities International plc and The Royal Bank of Scotland plc, and Citibank, N.A. London Branch acts as fiscal agent and principal paying agent.
In late May, the company's supervisory board granted its consent to start the process leading to issue of eurobonds of the maximum value up to EUR 1.0bn and maximum 10-year tenor.
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