Huta Katowice asks 6-bank consortium to wait for zl.400 million until July

The ailing Huta Katowice (HK) steel mill has asked a consortium of six banks, led by Bank Przemyslowo-Handlowy, for deferral of payment of a zl.400 million loan until July. “The consortium’s failure to defer repayment of the loan by HK is synonymous with the mill’s bankruptcy,” said Tadeusz Torz, head of the Steel Sector Trade and Industry Chamber and member of HK’s supervisory board. Although the banks would not make any statements on the matter, it is reported that they could agree. If they wait for their money, HK is more likely to find an investor. On the other hand, if the banks were certain that such an investor would be found, they would be more likely to wait. Torz says that it is in the interest of the banks for HK to keep going and the only thing it needs for that are funds for its operating activities. (Puls Biznesu, p.4, Prawo i Gospodarka, p.4) T.J