Bogdanka issue bonds worth PLN 400 mln

Pekao SA and Bank Gospodarstwa Krajowego (BGK) have acquired bonds worth PLN 400 million from coal mining company LW Bogdanka, according to Bogdanka’s press release. Four hundred maturity bonds, each valued at PLN 1 million were emitted to bolster the company’s existing investments, liabilities, ongoing activity. The bond redemption is due on June 30, 2015. Rate of interest on the bonds is equal to WIBOR 3M rates increased by a regular margin. The company’s liabilities are valued at PLN 571 million and are in line with the company strategy for 2013-2020. WSE-listed Bogdanka is a leader in coal extraction with 14.8 percent share of the Polish market.