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BRIEF-Poland's JSW extends deadline to approve debt restructuring talks to Nov.24

Published 2015-11-16, 12:15 p/m
© Reuters.  BRIEF-Poland's JSW extends deadline to approve debt restructuring talks to Nov.24
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Nov 16 (Reuters) - Jastrzebska Spolka Weglowa SA JSW.WA :
* Polish coking coal miner JSW JSW.WA said on Monday it
had extended the deadline for approving key details of its debt
restructuring talks with bondholders to Nov. 24, from Nov. 16.
* JSW, the European Union's largest coking coal producer,
said that failure to sign the term sheet by Nov. 24 would be a
basis for terminating the agreement.
* Last year, the state-controlled group signed a debt issue
deal with PKO BP (L:BP) PKO.WA , state bank BGK, insurer PZU's
PZU.WA investment fund and ING Bank Slaski INGP.WA ,
comprising a 700 million zloty ($176 million) bond and a $163.8
million bond.
* Earlier this year ING's Polish unit and JSW's only private
debt holder demanded early redemption of the group's bonds worth
26.3 million zlotys and $13 million, adding to the loss-making
miner's problems.

Source text for Eikon: ID:nEM1610533
Further company coverage: JSW.WA

($1 = 3.9675 zlotys)

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