Polish company OT Logistics is planning an issuance of bonds of a value of up to PLN 50 million (EUR 11.6 million) to partially finance the acquisition of shares in AD Montecargo and in Luka Bar AD BAR. The issuance of Series F bonds was approved by the company’s Supervisory Board. A part of the money will be used for financing the acquisition of a 51% stake in Montecargo and a 30% stake in Luka Bar AD BAR, for a total amount of up to PLN 30 million (EUR 6.9 million). Another PLN 10 million (EUR 2.3 million) raised from the bond issue will be allocated to the company’s working capital and the remaining funds will be used to finance the early redemption of Series D bonds issued by the company.
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