Redan to issue up to PLN 13 mln bonds

Clothing retailer Redan plans to issue bonds for a nominal value of PLN 13 million with two years maturity. A potential investor decided to acquire all bonds, Redan said. The issue price is set at PLN 990 per bond. PLN 7 million from the issue will be spent to buy newly issued TXM shares. The remaining PLN 5 million will be used to partially repay credit from HSBC Bank Polska.