The government will throw problems JSW banks? – Banker

The government is looking for ways to save JSW. Ideas are a few recent assumes the ordinary shifting the problem to the banks. Institutions have to get from the authorities an ultimatum.

 

Taniejący coal, still lifting their demands miners and poor governance, which culminated in the purchase of 1.5 billion zł mine Knurów-Szczyglowice, while the safe was empty. All this has led JSW on the brink of collapse – in the income statement have begun to host a loss, the company’s shares lost more than 90% of its value.

 
 
 
 

panacea for all the problems would probably double-digit increase in coal prices, it should be considered either in terms of a miracle, or a slow process that will last at least several months. Initially, the remedy for the troubles was to be an austerity program, but , its implementation is very slow .

 

The main shareholder has not decided on a harsher reaction in the Hawk. A kind of suspense is slowly starting to get impatient bondholders. ING openly demanded redemption of the bonds JSW did not do , but as a result of all this confusion created an agreement that gave the company a half years of relative calm . The problem also applies to PKO, PZU and BGK. It is these institutions “helped” the company when it needed money to finance the purchase of lacking business sense boars. The program carried out in 2014 emissions amounted to 700 million zł and 164 million dollars.
 
 

According to the latest reports, your attitude in the end is to change the Treasury. The proposed his way to resolve problems is, however, lead not by cutting benefits, and ordinary shifting the problem to the institutions that have agreed to JSW finance. Today “Rzeczpospolita” reports that the government wants to persuade banks to have reduced the huge debts of coal companies . According to the newspaper the banks presented three possible options. The first involves “voluntary” debt reduction JSW by bondholders, the second conversion of part of the debt per share, the third bankruptcy of the company.

 

Rather hard to believe that declaring support for the Polish capital and based among others, on the federal electorate of Law and Justice, has committed to bankruptcy JSW. If, however, as the “consensus” implemented the second option could lead to an interesting situation. In the banking sector, already burdened with new taxes, in addition to banks ‘ufrankowionych “there would be a new category – the banks’ uwęglowione” . According to sources, “Rzeczpospolita” similar movement is also considered for the debts of the Coal Company. If the problem spread to Alior, BZ WBK and BNP Paribas.

Adam Torchała