KGHM to loan PLN 900 mln from EIB

WSE-listed, state-controlled copper giant KGHM is planning to take a PLN 900 million unsecured loan from the European Investment Bank, the company said in a market filing, after agreeing on loan terms with the lender. The loan would be given in tranches in PLN, USD or EUR and would bear either a fixed or variable interest rates. It will be taken for a 12-year period. The credit would be used to finance investments which would modernize production lines, increase effectiveness, and implementing environmental solutions among others, the company explained.