Poland's PGNiG planning to sell €500 million notes by October

By Christine Van Dusen

Atlanta, May 13 - Poland-based Polskie Gornictwo Naftowe i Gazownictwo (PGNiG) plans to issue €500 million notes by October, a market source said Friday.

BNP Paribas, Societe Generale and Unicredit are the bookrunners for the deal.

This follows the company's March announcement of a plan to offer bonds after the release of its second-quarter earnings.

Prior to that announcement, the company mandated BNP Paribas, Societe Generale and Unicredit for a euro-denominated bond offering. The offering, to total €1.2 billion, was announced in September and had been expected to price by the end of 2010.

PGNiG is a natural gas company based in Warsaw.

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