PAK pins further finance hopes on new consortium
BRE Bank is representing Elektrim and energy producer Zespol Elektrowni PAK
in negotiations with banks about terms of financing the construction of
another generator for a power station. According to daily Parkiet, the
consortium might, amongst others, consist of Pekao SA, PKO BP and BZ WBK.
The total needed for early next year amounts to almost $400 million. The
energy producer has been financing the investment from their own capital,
but this will run out by the end of the year. The company had hoped that a
loan would be forthcoming from a consortium of EBRD, Citibank and
Westdeutsche Landesbank Girozentrale. However, they pulled out of the deal
due to the complicated situation of its majority shareholder, Elektrim.
(Parkiet, p. 6) M.M.
