Railway infrastructure operator PKP PLK has signed an agreement with state-owned lender Bank Gospodarstwa Krajowego (BGK) on the issue of bonds worth PLN 2.2 billion, the bank said in a statement on Wednesday.
BGK will be the sole agent and organizer of the issue.
The funds raised with the help of the debt issue will be used to finance PKP PLK’s ongoing investment program. The company is working on the modernization of some 3,200 kilometers of railroads.
In 2014, PKP PLK plans to carry out investments worth a record PLN 7 billion, the company’s CEO Remigiusz Paszkiewicz was quoted as saying.