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

EC opens in-depth investigation into Romanian energy producer CE Hunedoara

The European Commission announced on March 12 that it has opened an in-depth investigation to assess whether various public support measures from Romania in favour of energy ... more

Lack of X-ray facilities scuppers plan to start Iran-Iraq oil swap deal

A plan to truck oil from Iraq’s northern Kirkuk fields to Iran cannot yet be put into operation because of unresolved security concerns, the Iranian secretary-general of the Iran-Iraq Chamber of ... more

Shell to invest $42.5mn in oil, gas exploration in Albania

International oil major Shell plans to invest $42.5mn in oil and gas exploration in southern Albania over the next seven years, Albania’s National Agency of Natural Resources ... more