KGHM to help its telecom operator in debt restructuring
The copper giant KGHM, listed on the Warsaw Stock Exchange, has acquired PLN 115mn (USD 28.75mn) worth of bonds expiring on June 24 issued by Telefonia Lokalna (TL), Polish third largest fixed-line telecom operator. The debt is one of the measures taken to help TL, fully owned by KGHM, to restructure its debts. The copper miner also agreed to lend TL up to PLN 915mn and USD 43.5mn in the nearest future. TL's debt stands at PLN 1.5bn including PLN 800mn it owes to banks and further PLN 300mn to KGHM. TL, operator of the Dialog network, still needs money for investment. Currently it has 270,000 subscribers. After three quarters of this year TL reported a PLN 130.5mn loss on revenues of PLN 227.6mn. kp,bb
Źródło:Polski IntelliNews
