Impexmetal strives to switch over to long-term liabilities through bond issue

Impexmetal, a company producing and selling metals, intends to issue bonds with an estimated value of zl. 80 million. The proceeds will be spent on restructuring corporate liabilities, which currently stand at zl. 660 million. "The company has mostly short-term liabilities. In the future we want more long-term liabilities in the company's structure," said Impexmetal's financial director Krzysztof Adamski. After several years, bonds might be changed into shares and could then account for 42.9% of the firm's capital. One of Impexmetal's shareholders, the Templeton fund, is interested in the issue. At the same time, Impexmetal also intends to offer the bonds to its other shareholder, the State Treasury. (Rzeczpospolita, p. B4) A.Z.