ING presses JSW to buy back its bonds

Commercial lender ING Bank Śląski, the only private debtholder of Polish troubled coking coal producer Jastrzębska Spółka Węglowa (JSW), is pressing the miner to buy back some of its bonds in the near term, Puls Biznesu daily reported on Friday quoting sources close to the bank. The miner asked its bondholders to abstain from demanding redemption of bonds until the end of October. ING had the right to demand a redemption of their bonds if JSW failed to issue bonds on foreign markets by July 30. The company didn't do that due to unfavourable market conditions. ING Bank Slaski holds JSW bonds worth PLN 200 million.