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© demarco dreamstime.com Electronics Production | October 19, 2015

Polish cable producer TFK to receive EBRD funding

The European Bank for Reconstruction and Development (EBRD) is providing PLN 250 million (EUR 59 million equivalent) to the Polish cable and wire producer Tele-Fonika Kable SA (TFK) as part of a PLN 1.1 billion refinancing package arranged by the commercial lenders BZ WBK and mBank.
The funding will support the implementation of an extensive financial and operational restructuring programme. It will include: completion of the company’s integration and consolidation process, improvements in the IT infrastructure and expansion into the high-tech production sector.

Grzegorz Zieliński, EBRD Director, Poland and Baltics, said: “With this loan the EBRD is supporting an important and successful Polish company in its efforts to address the challenges ahead. The loan will support the company’s comprehensive restructuring strategy based on developing more innovative solutions for the cable market and addressing needs for improvement in the logistics and service areas of the business. By providing a substantial loan in local currency the EBRD is also acting as an anchor in a significant local debt market transaction.”

Monika Cupiał-Zgryzek added on behalf of Tele-Fonika: “The new five-year financing puts Tele-Fonika in a very strong position to meet the requirements of a growing global cable market. We are delighted to have the EBRD as one of our relationship banks and look forward to a successful cooperation.”

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