Duda threatens to veto Supreme Court reform

In what seems like an attempt to calm down the tensions caused by recent attempts to overhaul Polish judiciary, President Andrzej Duda said that he will not sign any bill changing the legal system, and submitted his own proposal for a reform of the National Council of the Judiciary (KRS).

Locked content KBC TFI demands that Sygnity buys back bonds worth PLN 6.8m

Pension Fund KBC TFI is another bond bearer which demands that IT group Sygnity redeems papers with a face value of PLN 6.8 million. Last week, mBank filed a motion asking to redeem PLN 7.5 million in bonds. “The demand for immediate redemption of bonds is due to the issuer’s violation of fina...

Locked content First power shortages in 2022 – GE

According to GE’s expert, first gaps in energy supply will occur in 2022, due to higher energy demand and shutting down outdated power units. ”Currently, electricity consumption in Poland is estimated at 26 GW. This demand may increase to 33 GW in 2030. The challenge for the coming years will be the...

Locked content PKO BP issues €750 mln bonds

WSE-listed lender PKO BP issued 4-year eurobonds worth €750 million as part of its €3 billion medium term note program. The bonds have a 0.75 bp coupon, (65 bps above Mid Swap) and were priced at 99.792 percent of the face value. PKO BP wants to dual-list the bonds in Warsaw and Luxembourg. Within i...

Locked content BGK with a PLN 1 bln loan program for telecoms

State-owned lender BGK has launched a PLN 1 billion loan program targeting the development of high-speed internet infrastructure, signing the first agreement with state-controlled Alior Bank. “We assume that by the year 2023 we will spend PLN 1 billion for loans to telecommunications companies for t...

Locked content Pesa wins €50 mln tram contract with Kiev

Rolling stock producer Pesa signed a €50 million deal for the delivery of 40 low-floor trams to Kiev, Pesa said in a market filing. “This is a great pride for us, but also a confirmation of the good opinions of passengers and the carrier regarding our products. The trams delivered so far to Kyiv hav...

Locked content Bogdanka to double its coal resources with new field in Ostrów

Coal miner Bogdanka, a subsidiary of state-owned utility Enea, has filed a motion for a new mining license at Ostrów field, which if approved would increase company’s resources by some 186 million metric tons. With this move, and expanding its Bogdanka field, the company will nearly double its resou...

Locked content Alior Bank won’t update its strategy – acting CEO

WSE-listed lender Alior Bank sees no reason to update its recently announced strategy and expects to pay a dividend no sooner than in 2020, acting CEO Michał Chyczewski said. ”We will implement all strategic goals and parameters, by end-September we want to have an operational plan for meeting parti...