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Orlen of Poland to sell 750 mln zloty of bonds on February 27

PKN Orlen SA, Poland's largest oil company, will sell 750 mln zloty ($253 mln) of bonds on February 27.

The non-public issue comes as a part of 2 billion-zloty bond program that will be managed by Bank BPH SA, a Polish unit of UniCredit SpA. Bank Pekao SA, BRE Bank SA, ING Bank Slaski SA, PKO Bank Polski and Societe Generale SA will also participate in the bond program, PKN said in the statement to the Warsaw bourse The value of Orlen's total liabilities reached 11.1 billion zloty (€2.85 billion) at the end of 2006, the company also said in the statement. In November, the refiner said it will sell bonds with a maximum maturity of seven years, denominated in zloty, euros, dollars or Czech koruna, to help finance expansion. (Bloomberg)