Pfleiderer Grajewo issues short-term bonds

Furniture producer Pfleiderer Grajewo has issued short-term bonds worth over PLN 355 million, the company reported. The issue was conducted "in order to optimize the management of financial liquidity within the Pfleiderer Grajewo Group, to decrease the company's external debts and to finance its current business activities," the firm informed. All of the bonds were purchased by Pfleiderer Prospan S.A., a subsidiary of Pfleiderer Grajewo. The estimated value of total liabilities on redemption date, which was scheduled for October 5 and October 23, is to reach PLN 360 mln. Pfleiderer Grajewo is part of Pfleiderer AG. It specializes in the production of wood-based materials used in furniture, interiors and the construction industry. The company is listed on the WSE.