Tauron to issue PLN 1.75 bln in debt

Major Polish utility Tauron will issue unsecured five-year bonds worth a total of PLN 1.75 billion, the company said is a statement on Thursday, confirming earlier reports. The issue is part of a PLN 5 billion bond program. The bond yield will be based on the WIBOR rate plus 0.9 percent. The issue is coordinated by a consortium of banks that includes ING Bank Śląski, mBank and Bank Pekao. 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.