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INFOLINE801 77 29 29

Issue of PKP Energetyka bonds as the next step towards modernisation of Polish railways

PKP Energetyka SA signed an agreement with Bank Gospodarstwa Krajowego (BGK) and ING Bank Śląski SA (ING) for the issue of bonds worth PLN 500 million. Revenues from the issue of bonds are envisaged for financing the modernisation of the traction network supply system to allow train operation at higher speeds.

The issue of bonds by PKP Energetyka is one of the means allowing the company to modernise the traction network supply systems.

The objective is to improve quality parameters of the power supply to the traction line. Modernisation investments under the project started in 2012, and their completion is scheduled for 2015. The value of the complete investment programme amounts
to more than PLN 1 billion. The issue of bonds fully satisfies the needs of PKP Energetyka S.A. with regard to external financing of the project. The remaining amount will be financed by resources from business operations.

The issue of bonds by PKP Energetyka is non-public and was acquired in whole by BGK and ING. The bond maturity date falls on 15 December 2020.

The issue of bonds provides secure and stable financing of the company’s key investment program - modernisation of traction network power supply” said Marta Towpik, member of the Management Board, Economy and Finance Director at PKP Energetyka.  ”The terms and conditions of the bond issue evidence that PKP Energetyka enjoys a good reputation and the trust of financialinstitutions” she adds. 

Modernisation of the traction network supply systems is a very important element of the railway infrastructure investment programme, serving the purpose  of railway line adaptation to the increased operating speed. 

The programme assumes that in 2015 railway lines prepared, in particular for  Pendolinotrains, will be fully adapted to their requirements with regard to power intake. Implementation of the investment programme will mean significant quality improvement that should translate into increased comfort of traveling and the satisfaction of passengers.

We are aware of the significance of our work to the final success of the entire railway modernisation programme” said Tadeusz Skobel, President of the Management Board at PKP Energetyka.”We feel responsible not only towards  our customers, i.e. PKP Polskie Linie Kolejowe S.A. and railway operators but most of all towards passengers who will be the first to benefit from the quality improvement of the railway infrastructure” he adds.


Last modified: 2/29/2016