PKP Cargo to finance its investment programme

30.08.2010 (16:58)

Polish state-owned freight rail operator PKP Cargo is considering a plan to issue PLN 350mn (EUR 87.54mn USD 110.93mn) worth of convertible bonds to help finance its investment programme for 2011, Logistics Finland informs.

Under this plan, the Polish Industrial Development Agency (ARP) would buy the shares from PKP Cargo, and the transaction would be finalised before the company's planned privatisation.

However, this is only one option being considered, the others including conventional bonds, leasing and credit. It is possible that if the bond issue does not take place, PKP Cargo will finance the purchase of new vehicles individually though leasing or credit.

www.transportweekly.com 

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