October 20, 2014 / 6:32 AM / 3 years ago

Czech Pegas Nonwovens looks to issue bonds worth up to CZK 2.5 bln

PRAGUE, Oct 20 (Reuters) - The board of Czech artificial textile maker Pegas Nonwovens has approved a prospectus for issuing bonds worth up to 2.5 billion crowns ($115.93 million) to pay down bank loans, the company said on Monday.

The final decision on issuing the bonds is subject to market conditions, Pegas said, adding any issuance would not lead to an increase in the firm’s net debt.

Erste Group Bank’s Czech unit Ceska Sporitelna is the lead manager for the potential issue and Wood & Co. is a manager. (1 US dollar = 21.5650 Czech crown) (Reporting by Jason Hovet)

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