On December 20, 2019, the capital subsidiaries of ZE PAK SA concluded two loan agreements, as follows:
- Loan agreement for PLN 32.5 million between PAK Kopalnia Węgla Brunatnego Adamów SA (as the lender) and PAK Kopalnia Węgla Brunatnego Konin SA (as the borrower),
- Loan agreement for PLN 25 million between PAK Infrastruktura Sp. z o.o. (as the lender) and PAK Kopalnia Węgla Brunatnego Konin SA (as the borrower).
The transactions were concluded on market terms. Appropriate comparative analyzes were made regarding the marketability of remuneration used in the abovementioned transactions.
Until now, ZE PAK SA Capital Group had a bond issue program issued by PAK Kopalnia Węgla Brunatnego Konin SA and purchased by companies from ZE PAK Capital Group. The conversion of the bond issue program into loan agreements was determined by lower costs of servicing loan agreements.