Kompania Węglowa reaches deal with lenders

Poland’s coal mining giant Kompania Węglowa (KW) has signed a preliminary agreement with bond guarantors on the planned restructuring of the company’s financial debt, KW said in a press release on Thursday. The bond guarantors consortium includes Bank Zachodni WBK, Alior Bank, Bank Gospodarstwa Krajowego, PKO BP, BNP Paribas Polska and coal trader Węglokoks. The agreement stipulates for changes to be made in the debt issue agreement by July 2014. KW said that the agreement, reached after long-lasting negotiations, reduces the risk of the company’s bankruptcy.