Kopex prolongs PLN 620 mln debt restructuring with 7 banks
02:08
Polish mining equipment producer Kopex has landed a deal with banks on setting the key conditions of the group's restructuring issue, the company informed in a market filing.
The agreement was signed between Kopex (including its units) and such banks as PKO BP, Pekao, ING Bank Śląski, BGŻ BNP Paribas, HSBC Bank Polska, Deutshce Bank Polska and Raiffeisen Bank Polska.
The period of debt restructuring will last 5 years, until end-2021. Kopex's debt, in the amount of PLN 620 million plus PLN 28 million in off-balance sheet exposures, will be repaid in three tranches of PLN 175 million, PLN 260 million and PLN 185 million.
Kopex is Poland's biggest mining machinery producer. The company recently said that it had recorded lower revenues and worse financial results, stemming from the unfavorable situation on domestic and global coal markets.
