issue of bonds/granting gurantees
PBG company has written off 750 B series bonds and had issued C series bonds of the total amount PLN 375.000.000, increasing in the same time number of PBG's bonds available on the market to 5.000. Date of C series bond redemption is set on 10th of September 2012. Purpose of the issue of bonds is to gain resources for development in the area of natural gas, infrastructure and power generation.
Gained funds will enable the Company to partially release available credit and guarantee lines and to increase amounts of available credit and guarantee lines.
In relation to the issue of bonds subsidiaries INFRA SA, HYDROBUDOWA POLSKA SA and HYDROBUOWA 9 SA have granted to all holders of C series bonds guarnatees to the amount of PLN 450.000.000 for the period until 10th of March 2013 however gurantees for B series bonds have been decreased to the amount of PLN 150.000.000.