PGE hopes to get PLN 500 mln from BGK and EBRD

Power utility PGE hopes to receive PLN 500 million from state-owned lender, Bank Gospodarstwa Krajowego (BGK) and the European Bank for Restructure and Development (EBRD), but it continues to put the issue of eurobonds on hold, said financial director Magdalena Bartoś. "Since our investments require a solid, stable back up, we hope to prolong our cooperation with BGK and hope to get an additional PLN 0.5 billion as an extension of our current financing scheme. We are also in talks with the EBRD over financing. Bartoś said that the issue of eurobonds will be conducted when the situation on the market improves.