Żywiec to issue bonds to in order to finance restructuring plans

Brewer Grupa Żywiec, next year plans to earmark approximately zł. 300 million for investments and pay its shareholders a dividend from this year's net profit, the company's president Nico Nusmeier said yesterday. This year's expenditures for investments will amount to zł. 300 million. The financial resources will finance the modernisation of the brewery in Warka, and the construction of a canning plant in Żywiec. In order to pay for next year's projects Żywiec intends to issue bonds valued at zł. 500 million. The issue has already been approved by Żywiec's shareholders and it will target a limited number of financial investors - banks and pension funds. The brewer is still awaiting permission from the Office of Competition and Consumer Protection (UOKiK) on its merger with Brau Union. (Puls Biznesu, p. 8; Parkiet, p. 3) A.Z.