TAURON: Debut of bonds on the Catalyst market

On 12 March corporate bonds of TAURON Polska Energia worth PLN 1.75 billion were newly listed on the Catalyst market. Within the bond issue programme adopted in 2013 TAURON can still issue securities with the value of PLN 3.25 billion. 

The bonds were acquired by institutional investors in a non-public subscription completed in November 2014.

Funds acquired due to the issue of bonds will be allocated for financing of TAURON Group investment programme, which in the forthcoming years assumes, inter alia, the construction of the modern 910 MW unit at Elektrownia Jaworzno III – says Dariusz Lubera, President of the Management Board of TAURON Polska Energia.

Last year's issue was the biggest offer in the preceding year and the second biggest in the history of the domestic market of corporate securities.

– Bonds of TAURON Polska Energia we issued in the autumn have attracted considerable interest. Investors were ready to acquire bonds worth PLN 2 billion, which has enabled us to raise the planned value of the offer from PLN 1 billion to PLN 1.75 billion and obtain a very attractive interest rate. At present, owing to introduction of the bonds to trading, they are available for a broader group of investors, including individual investors – says Krzysztof Zawadzki, Vice-President of TAURON Polska Energia Management Board for Economics and Finance.

The bonds being introduced to trading have a five-year maturity. Their interest rate is based on a six-month WIBOR rate increased by the 0.9 percentage margin. The interest will be paid on a semi-annual basis following the date of issue. A unit value of bonds amounts to PLN 100 thousand. These securities are not hedged.

The bonds carry A rating granted by Fitch rating agency.


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