A consortium of banks involving, among others, PKO Bank Polski has signed a financing agreement with Remontowa Shipbuilding SA shipyard, PKO BP reported on Monday. Under the agreement, the banks have provided the shipyard with revolving lines of guarantees and letters of credit worth PLN 150m, and will support the contract.
PKO Bank Polski is in a consortium of banks that have signed a financing agreement with Remontowa Shipbuilding SA shipyard. The bank consortium is made up of mBank and PKO BP with a 50 per cent share each. The banks will provide the guarantee lines needed to service contracts with suppliers and subcontractors.
The banks have provided the shipyard with revolving lines for guarantees and letters of credit worth a total of PLN 150 million. The shipyard is managing the construction of the Kormoran II mine destroyers under a contract for the Polish Navy, PKO BP said in a press release.