13:49 19 February 2019
JSW mulls PLN 0.5-1 bln share issue
WSE-listed, state-controlled coal producer JSW is in talks with the Treasury regarding a potential PLN 0.5-1 billion bond issue, said the company’s CEO Daniel Ozon.
“We ended last year with the amount of around PLN 1.4 billion in investment expenditures and we would like them to be at such level in the coming years. We plan on building new mines and we need external financing to do that,” Ozon said.
He added that the new issue will allot the Treasury to retain its control over the company.
At the same time, JSW is conducting talks on long-term financing with banks. Back in November, Ozon said that JSW is finalizing talks with several banks for PLN 750 million, and also with the European Investment Bank for additional PLN 250 million.
“We are currently finalizing work with a consortium of Polish banks with the participation of one Chinese bank to secure seven-year financing, and we have managed to obtain positive decisions from the European Investment Bank,” Ozon explained.
