Ciech to refinance its debt
10:49
Polish chemical company Ciech has signed a credit deal for PLN 1.34 billion in total and decided to redeem bonds worth €245 million, in order to refinance its outstanding debt, the company informed.
In addition, Ciech will be provided with PLN 250 million revolving credit which is to be earmarked for its corporate activities and working capital.The agreement was signed with Bank Handlowy, BankMillennium, BZ WBK, Credit Agricole Bank Polska, HSBC Bank Polska, the Polish unit of Industrial and Commercial Bank of China and state-owned PKO BP.
The redemption price stood at €263.4 million. The bonds were issued in 2012.
