Tauron Polska Energia €190 million hybrid bond issue

Overview:

• Tauron Polska Energia has issued €190 million in hybrid unsecured subordinated registered bonds.
• The deal is thought to be the first issue of this type by a Polish entity.
• The European Investment Bank (EIB) acted as a subscriber in the deal.
• Funds raised will be used to invest in the company's power distribution network.
• The securities are excluded from the company's debt ratio and can be included as equity in the calculations of a rating agency.

Sam Duke - Editor