Tauron expands bond issue – sources

Major Polish power utility Tauron has decided to increase its five-year bond issue to PLN 1.75 billion compared to an earlier planned PLN 1 billion, according to sources quoted by Bloomberg. The sources said that Tauron closed the book-building process at a price equal to the WIBOR rate plus 90 basis points. Tauron had earlier considered a debt issue worth PLN 2 billion. However, its representatives later said that only a PLN 1 billion issue was now possible.