Mining machinery firm issues green bonds worth EUR 87 mln

Company CEO Mirosław Bendzera said the bond issuance and the green projects are part of the ecological transformation of the Polish economy. Marek Zimny/PAP

Famur Group, a Polish manufacturer of mining machinery, which announced a 'green transformation' strategy in May, has issued green bonds worth PLN 400 million (EUR 87.13 million) to finance environmentally friendly projects.

Famur announced on Wednesday that its issuance of bonds had been successful. "It is an action undertaken within the framework of the Bonds Programme established and launched by the company on December 18, 2015, and amended in August this year," Famur explained in a press release. "Bonds to a combined nominal value of PLN 400 million were paid up and acquired by bondholders."

The Famur Group has published a 'Green Bond Framework' on its website, describing "green and sustainable" financing and defining the aims of such financing and the types of investment the funds from bond issues will be earmarked for.

Company CEO Mirosław Bendzera said the bond issuance and the green projects are part of the ecological transformation of the Polish economy.

Among other projects, Famur plans to develop solar-power farms and become a leader in green transformation among companies of the coal mining sector.