PKN Orlen Cancels Bond Sale, Awaiting a More `Constructive Environment'

(Bloomberg) -- PKN Orlen SA, Poland's largest oil
company, postponed a sale of bonds in euros because of market
volatility, according to an e-mailed statement from the company,
sent by one of the managers of the sale.

``Given the current market volatility, PKN Orlen has
decided to place the envisaged transaction on hold,'' the
company said in a statement distributed by Societe Generale SA
today. ``PKN Orlen will continue to monitor the market and
execute the transaction in a more stable and constructive
environment.''


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