Orlen obtained PLN 2 billion for the implementation of strategic investments

Orlen obtained PLN 2 billion to implement strategic investments by issuing 20,000 bonds with a 7-year maturity and a variable coupon of WIBOR 6M + 1%. per year – Orlen announced in a press release.

As reported, the issue was rated BBB+ and AA+ (pol), and the entire offer was addressed to domestic institutional investors.

“We successfully carried out a bond issue, raising capital, which additionally strengthens our ability to finance strategic projects,” said Sławomir Jędrzejczyk, vice-president of Orlen for finance.

“The transaction completed in Poland is an important stage in the diversification of financing sources, following this year's issues addressed to European and American investors. Its scale also highlights the importance of domestic capital in securing the company's long-term liquidity needs,” he added.

It was indicated that the capital raised would replace the bond issue worth PLN 1 billion due on December 22, 2025.

“The funds from the issue will be used for general corporate purposes, including the implementation of investments included in the Orlen 2035 Strategy. The buyers of the bonds were investors looking for assets with a variable coupon and a long redemption horizon: banks, pension and investment funds. Bank Pekao and PKO Bank Polski acted as coordinators, and Bank Pekao acted as the agent,” it was written. (PAP Business)

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