CHI Polska to issue zl. 20 million in bonds

CHI Polska, the owner of the Coffee Heaven coffee bar chain is planning a zl. 20 million bond issue. The company has already filed its prospectus with the Securities and Stock Exchange Commission (KPWiG) and will see its papers debut on the CeTO as early as April. "It is true that KPWiG has two months to make a decision but we hope to secure the commission's assent earlier," said Marcin Tarnicki, managing director of Larchmont Finance, in charge of CHI's bonds issue. The company's board of directors decided the maturity date of the bonds, addressed at banks, investment funds and open pension funds, cannot exceed seven years and would be sold in two tranches of around zl. 10 million each. The planned issue is aimed at raising capital for the expansion of its chain from the existing 12 outlets to 50 by 2006. (Puls Biznesu, p. 9) J.K.