Tauron with PLN 400 mln hybrid financing from BGK

WSE-listed utility Tauron secured PLN 400 million in hybrid financing from state-run development bank BGK. “It is a difficult instrument but one offering Tauron many possibilities,” BGK CEO Beata Daszyńska-Mazurek said. The program will include 12Y bonds with a call option after 7Y and will be issued over the course of the coming two years. The funds will be spent on the distribution segment.