Watchdog clears Polish oil firm PKN Orlen's bond issue prospectus

By bne IntelliNews May 27, 2013

The Polish Financial Supervision Commission (KNF) has passed a prospectus of Poland's biggest downstream oil company PKN Orlen related to its planned bond issue, as the watchdog has announced. The notes will be subject to public trading.

The offer will be organised by brokers UnICredit CAIB Poland and DM PKO BP.

In early April, PKN Orlen announced it submitted KNF with a prospectus related to its planned PLN 1bn (EUR 0.25bn) retail bond issue programme.

At that time, the firm said this scheme is one of the tools it wants to use to alter its financing structure, which is currently dominated by bank loans. In late 2012, the firm it does not plan an eurobond issue in 2013, while it targets regaining an investment-grade rating.

 

Related Articles

Poland’s PKN Orlen launches offer to delist Czechia’s Unipetrol

Poland’s state-controlled oil and gas company PKN Orlen has launched an offer to take over Czech refiner Unipetrol, the Polish company said on December 13. PKN Orlen said it will go through with ... more

Turkmenistan to take Iran to arbitration over $1.8bn gas supply claims

Turkmenistan announced plans on December 5 to take a dispute with Iran over $1.8bn Tehran supposedly owes for Turkmen natural gas deliveries to international arbitration. Tehran says the figure is ... more

Kazatomprom reportedly hires JP Morgan as lead adviser for 2018 IPO

Kazakhstan’s state uranium miner Kazatomprom has hired JP Morgan as its lead adviser for a London listing planned for 2018, Reuters reported on November 29, citing two ... more

Dismiss