Stock news Cognor na GPW
On October 28, 2026, financial market assessments highlighted balance--sheet and refinancing risks at Cognor Holding S.A. (WSE: COG) following net debt--to--EBITDA covenant breaches under its series 1/2024 and 2/2024 bond programs and credit agreements with several key lenders, including Santander, Erste, Alior Bank, and Bank Pekao. While bondholders granted a conditional waiver preventing immediate early redemption demands, the Santander credit facility and bond debt were reclassified as current liabilities, lifting the group's total short--term liabilities to PLN 1,328.3 million against current assets of PLN 1,069.7 million. Cognor is required to secure formal consents from remaining financing banks by December 31, 2026, to preserve covenant waiver validity ahead of a scheduled PLN 48 million bond redemption tranche due on January 15, 2027.