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The role of corporate bonds in financing mining sector companies during an economic downturn

Author

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  • Sierpińska Maria
  • Bąk Patrycja

    (AGH Akademia Górniczo-Hutnicza, Wydzia³ Górnictwa i Geoin¿ynierii, Kraków)

Abstract

The article presents the subject of bond issues in Poland as a source financing operations of mining enterprises. The volume of issues is not impressive, either as a proportion of investment expenditure or the GDP. Highly developed countries use this form of debt much more broadly. Issuing bonds has many advantages over raising capital by issuing shares or contracting bank loans. The cost of raising capital by floating bonds can be lower than by taking out bank loans and issuing shares. However, there are still many barriers that hinder raising capital from this form of debt. The greatest barrier seems to be the shortage of domestic capital on the Polish debt market.

Suggested Citation

  • Sierpińska Maria & Bąk Patrycja, 2013. "The role of corporate bonds in financing mining sector companies during an economic downturn," Gospodarka Surowcami Mineralnymi / Mineral Resources Management, Sciendo, vol. 29(1), pages 141-155, March.
    • Handle: RePEc:vrs:gosmin:v:29:y:2013:i:1:p:141-155:n:11
    DOI: 10.2478/gospo-2013-0011
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