Polish energy firm plans eurobonds worth up to 2bn euros

WARSAW: Poland's biggest energy firm PGE said on Thursday it has established a eurobond program under which it may issue bonds worth up to 2 billion euros ($2.73 billion) through its subsidiary PGE Sweden.

"The euro bond program will allow us to access more external sources of funding, which is particularly important in the light of the needs of the PGE Group related to the implementation of the investment program set out in the strategy for 2014-2020 PGE CEO Marek Woszczyk said in a statement.

PGE had earlier said it would invest around 50 billion zlotys ($16.35 billion) in the next five years. The minimum maturity of the planned bonds was set at 1 year.