Poland's PGNiG plans to sell zloty-denominated notes by end of June

By Christine Van Dusen

Atlanta, June 1 - Poland's Polskie Gornictwo Naftowe i Gazownictwo SA (PGNiG) plans to issue zloty-denominated notes sometime before the end of June, according to a statement from the company.

Under a five-year and $4.5 billion bond program, PGNiG will be able to issue for private placement fixed- or floating-rate bonds with maturities of up to 10 years, the statement said.

Bank Slaski SA and Bank Polska Kasa Opieki SA are the bookrunners for the deal.

Proceeds will be used for oil, gas and shale gas exploration; construction and expansion of production facilities; underground storage capacities and the distribution network; and projects in the power sector.

PGNiG is a Warsaw-based oil and natural gas company.

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