We also reduced our position in Polish government bonds from roughly 2% to 1%, and pared our exposure in the Polish zloty
from roughly 2% to 1%.
Avi Hochman, CFO of Netia Holdings SA, commented on the transaction: "Including our first large-scale hedging transaction less than six months ago, the equivalent of nearly USD 400 million in Netia debt has been swapped into Polish zloty
Following the January 1, 2001 introduction of the new Polish Telecommunications Act, which lifts foreign ownership restrictions on telecommunications operators in Poland, and pursuant to the Netia 1 consortium agreement, Netia Holdings SA will acquire 548,944 shares of Netia 1 for the Polish zloty
equivalent of USD 14.
The contract has a total value of 210 million Polish Zloty
(53 million euro, $56 million USD), with Bombardier's share valued at approximately 93 million Polish Zloty
(23 million euro, $25 million US).
s Skarbiec-Kasa, a Polish Zloty
denominated money market fund.
1 The contract is to carry out a basic current account, jednegorachunku secondary to the primary current account, the financial loan in the primary current account up to a limit of 1 000 000 PLN (in words: one million) and long-term loan to pay off liabilities in the amount of 13 000 0000 PLN (thirteen milionEwzlotych) for a period of 10 years in the Polish zloty
/ CODE CPV 66.
As an alternative, the Fund is presently invested in Polish Zloty
Treasury bills and management is looking to other investment grade, non-traditional markets where foreign governments have set out responsible, anti-inflationary fiscal/monetary policies, such as Hungary.
The EBRD is considering providing a Polish Zloty
long-term loan of up to 68 million equivalent to finance the construction and operation of a 120MW greenfield Pawlowo wind farm in north-west Poland.
4th Repayment of loan / credit: repayment of capital in the Polish zloty
will take place on a monthly basis in equal installments of 72, in the amount of 1/72 the amount of a loan or a bank loan, the first installment will be payable as of 31/01/2013 of the year (assuming that the credit / loan will be granted in the month of December 2012) and the next installment at the end of next month - when the last day of the month falls on a day off from work, maturity expires next working day.
pl will receive up to PLN 12 million Polish zlotys