KGHM copper signs PLN 2bn loan agreement with EIB
August 4, 2014
Copper and silver giant KGHM signed a PLN 2 billion 12-year unsecured loan agreement with the European Investment Bank (EIB) on August 1, KGHM said in a market filing.
"The funds acquired through this loan will be used to finance company investment projects related to modernization of metallurgy and development of the Zelazny Most tailings pond," KGHM said in the statement.
The loan will be available to KGHM for a period of 22 months since the signing of the agreement and will be drawn in maximum seven installments of up to PLN 300 million each, the filing reads.