EBRD supports Polish copper producer KGHM

By Axel  Reiserer

EBRD promotes R&D at Bulgarian copper producer Sofia Med

  • EBRD investing PLN 400 million in corporate bonds issued by KGHM Polska Miedź S.A.
  • Proceeds from EBRD subscription to be used for energy efficiency programme
  • KGHM Polska Miedź S.A. is largest copper producer in Europe

The largest copper producer in Europe, KGHM Polska Miedź S.A., has successfully issued the first bond in its history amounting to PLN 2 billion (€469 million equivalent). The EBRD has participated in the 10 year-tranche of the issuance with PLN 400 million.

The proceeds from the EBRD investment will be used for investments in energy savings and the reduction of CO2 emissions.

The successful placement of a corporate bond of this size also supports the further strengthening and deepening of the Polish capital market, one of the EBRD’s strategic priorities in the country.

KGHM Polska Miedź S.A., established in 1957 and headquartered in Lubin in Lower Silesia, is one of the largest copper and silver producers in the world.

In recent years, the company successfully expanded outside of Poland with operations in the USA, Canada and Chile. In its latest strategy, the company identifies climate change and technological advances as major challenges which it will be addressed with significant investments. The EBRD’s investment and support is consistent with the realisation of selected energy investments under the company’s strategy.

To date, the EBRD has invested more than €9.75 billion in 416 projects in Poland. The Bank has defined strengthening of the local capital markets as one its priorities in the country and is supporting the government with the development and implementation of a national capital markets strategy.