Czech miner OKD takes 720 mln euro syndicated loan

20.11.2006 | , Reuters
Zpravodajství ČTK


perex-img Zdroj: Finance.cz

PRAGUE, Nov 20 (Reuters) - Czech mining company OKD said on Monday it had agreed to draw 720 million euros ($924 million) before the end of this year via a syndicated credit from a group of 13 international banks led by Citigroup <C.N>.

OKD said in a statement it would cut its equity and use the loan to revamp its capital structure before a planned initial public offering of its owner, New World Resources (NWR).

NWR, registered in the Netherlands, has been choosing between Prague, Warsaw and London as possible markets for the offering, expected to take place in the middle of next year. ((Reporting by Marek Petrus, editing by Edmund Klamann; Reuters Messaging: rm://marek.petrus.reuters.com@reuters.net; e-mail: prague.newsroom@reuters.com or marek.petrus@reuters.com; Tel: +420 224 190 477)) ($1=.7789 Euro)

Keywords: ENERGY CZECH OKD

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