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Poland's Tauron picks banks to draw up financing strategy
October 24, 2012 / 1:56 PM / 5 years ago

Poland's Tauron picks banks to draw up financing strategy

WARSAW, Oct 24 (Reuters) - Poland’s Tauron selected a group of banks to work out a strategy to finance planned investments of between 44 billion zlotys ($13.8 billion) and 45 billion through the coming decade.

The banking consortium, which includes international and local units of ING, UniCredit, Commerzbank , Banco Santander and Goldman Sachs, is expected to develop the plan for Poland’s No.2 utility by the end of the year.

The options that will be taken under consideration are bond, eurobond and share issues, Tauron said in a statement.

“The source of financing which today appears most likely is a bond issue directed at domestic financial investors and then a eurobond issue,” Tauron Chief Financial Officer Krzysztof Zawadzki was quoted as saying.

Tauron shares were down 1.5 percent by 1312 GMT versus a 0.6 percent rise in Warsaw’s large-cap index WIG20. ($1 = 3.1831 Polish zlotys) (Reporting by Maciej Onoszko; Editing by Michael Kahn and David Holmes)

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