BGK to support PGNiG’s debt issue program

Poland’s natural gas giant PGNiG has signed a bond issue agreement with state-owned lender Bank Gospodarstwa Krajowego (BGK), the companies said in their respective statements on Thursday. The debt issue program allows PGNiG to carry out several bond issues worth up to PLN 1 billion. They will have to mature no later than September 30, 2024. BGK will act as guarantor in the program, as well as issue agent, payment agent and depositary. The proceeds will be spent on investments in the PGNiG capital group, including the diversification of natural gas sources, exploration work and the expansion of storage infrastructure.