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NOT TO BE PUBLISHED OR DISTRIBUTED DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PARTS, IN OR TO
THE TERRITORY OF THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA AND JAPAN.
PRESS COMMUNICATION
Warsaw, 4 December 2013
PLN 200 million of credit for PKP CARGO from the European Bank of
Investment
PKP CARGO signed a contract with the European Bank of Investment for a credit for PLN
200 million. PKP CARGO will use the resources for rolling stock investment.
PKP CARGO has up to PLN 200 million of credit to use in the period of 24 months from the date of
signing the contract. According to the bank policy the amount of credited resources cannot exceed
the value of 50 % of realized projects.
-Credits given by the European Bank of Investment are a very beneficial form of financing for
institutions and companies not only from transport industry. In our opinion we gain the means on
very good conditions – Mr. Adam Purwin, C.F.O. acting C.E.O. of PKP CARGO said. – It is worth
noticing the fact that it is the first credit in the history of Polish railway, which was given without any
indemnities of National Treasury or bank guarantees, which puts as on the position of a reliable
business partner and confirms our stable financial situation - he added.
PKP CARGO, just as in previous years, consequently realizes the policy of exchanging its rolling stock,
gradually increasing investments in this area.
In 2010 the Company spent PLN 452,1 million, mainly on modernizing 43 locomotives, repairing
locomotives and purchasing 250 train cars within financial leasing and repairing cars. In 2011 the
Company spent PLN 577,4 million on rolling stock, mainly on modernizing 81 locomotives and
repairing locomotives, purchasing 422 train cars and repairing train cars, whereas in 2012 it was PLN
593,4 million, where most of the resources were devoted to purchasing locomotives zł, (PLN 15,7
million), modernization of 115 locomotives, repairs of locomotives and purchasing 80 train cars and
repairing train cars.
- The Company’s rolling stock is gradually being modernized. It is cheaper especially in case of
locomotives, where modernization may cost four times less than purchasing a new vehicle (depending
on the model), prolongs the life of locomotive by minimum 20 years and lowers exploitation costs –
Adam Purwin explains.
Average age of rolling stock, locomotives and train cars, is not different from international standards.
According to the data of 30 June 2013 PKP CARGO (including the rolling stock of subsidiaries) has
2459 locomotives and 63 488 train cars.
More information:
Mirosław Kuk
Spokesman of PKP CARGO
(+48) 783 91 51 34
[email protected]
NEITHER THIS ANNOUNCEMENT NOR ITS COPY CANNOT BE DISTRIBUTED DIRECTLY OR INDIRECTLY,
AS A WHOLE OR IN PARTY ON OR TO THE TERRITORY OF THE UNITED STATES OF AMERICA,
AUSTRALIA, CANADA AND JAPAN.
This press announcement is solely a promotional document according to Art. 53 item 2 and further, of
the Act of 29 July 2005 on public offer and conditions of introducing financial instruments to an
organized circulation system and on public companies.
Emission prospect (“Prospect”) prepared according to the offer and admittance of the Company
shares to the stock exchange list on the Warsaw Stock Exchange and approved by Polish Financial
Supervision Authority is the only legally binding document containing information about the Company
and the public offer of its shares in Poland (“Offer”).
This press announcement is not an emission prospect. The offer of bonds sales will be made and each
investor shall make a decision on investment solely on the basis of information included in the
emission prospect of the Company. The emission prospect of the Company is available on the internet
site of the Company (www.pkp-cargo.pl) and of Powszechna Kasa Oszczędności Bank Polski S.A.
Department – Dom Maklerski PKO Banku Polskiego in Warsaw (www. dm.pkobp.pl).
This press announcement is not a sales offer or an invitation to making a sales offer of bonds
purchase in the United States of America. Bonds cannot be offered or sold on the territory of the
United States of America without previous registration or exemption from registration requirement.
The Company does not intend to register any part of the offer in the United States of America. This
press announcement or any copy cannot be transferred of by any means made available on the
territory of the United States of America.
Distribution of this materials may be prohibited in certain countries. It is prohibited to distribute this
document on the territory of Canada, Japan or Australia. Information included in this document are
not a sales is not a sales offer or an invitation to making a sales offer of bonds purchase in the
Canada, Japan or Australia.
In the member states of European Economic Area (EEA) this press announcement and the offer of
bonds purchase, if they were announced at the same time, are directed solely to persons who are
„qualified investors” according to Art. 2 item 1, point e) of the Directive 2003/71/WE (as amended)
(this Directive, together with any means of implementation as required in this Directive in a given
Member State and other proper regulations, „Prospect Directive”) or on the basis of an exception
defined in Art. 3, item 2 of the Prospect Directive. It is assumed that the qualified investors who
purchase bonds within the offer of bonds or who are the addressees of offer of bond purchase made a
proper statement that they are qualified investors. It is also assumed that all investors made a
statement that they do not purchase bonds on behalf of member states citizens other than qualified
investors or persons from Great Britain or other member states (with similar legal provisions), on
behalf of whom the investor may take decisions on his own, and that they did not purchase the
abovementioned bonds in order to offer or sell them in EEA member states, which could cause the
necessity of publishing the prospect by the Company or Goldman Sachs International, Morgan Stanley
and Dom Maklerski PKO Banku Polskiego („Global Coordinators”) or other members of consortium of
entities offering or guaranteeing the Offer according to Art. 3 of the Prospect Directive. The Company,
Global Coordinators and other members other members of consortium of entities offering bonds of
the Company and guaranteeing offer of such bonds and their representatives will be based on real
and complete statements mentioned above.