EBRD invests in Cyfrowy Polsat bonds

The European Bank for Reconstruction and Development (EBRD) is investing in bonds issued by telecommunications and media company Cyfrowy Polsat. "The Bank’s investment will encourage the development of the local corporate bond market by supporting a sizable local currency corporate bond issue of a longer maturity, as well as the expansion of the company’s services to remote areas of Poland outside the main cities," a statement read. “In order to keep its momentum and achieve further growth the Polish economy needs support through a strong local currency capital market. Our investment today is expected to strengthen this development, especially in the area of non-financial corporate bonds where room for expansion remains. An expanded capital market should provide liquidity for a strong company like Cyfrowy Polsat and further enhance operational delivery," said Dirk Werner, EBRD Director of Information and Communication Technologies. Cyfrowy Polsat offers telecommunications, paid TV and broadcasting services to its customers. The company is listed on the Warsaw Stock Exchange, with the majority of its capital under private control.