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Grupa Azoty signs amendment to investment loan facility agreement

On September 20th 2016, the Management Board of Grupa Azoty S.A. and Powszechna Kasa Oszczędności Bank Polski signed an amendment to a loan facility agreement.
On September 20th 2016, the Management Board of Grupa Azoty S.A. and Powszechna Kasa Oszczędności Bank Polski signed an amendment to a loan facility agreement. The agreement, signed with a bank syndicate including PKO Bank Polski as the facility agent, was executed in April 2015. The facility will provide Grupa Azoty with funding it intends to apply towards the investment programme envisaged in Grupa Azoty’s strategy until 2020, among other projects.

The amendment increases the facility amount from PLN 237,000,000 to PLN 240,000,000, extends the repayment deadline from September 30th 2016 to September 30th 2019 and provides a revolving facility in the euro and US dollars, in addition to the złoty facility available to date. A new party also joins the agreement − Grupa Azoty ATT Polymers GmbH, which is granted a credit limit of EUR 7,500,000, repayable by December 31st 2024.
Under the agreement, the Bank granted each borrower a revolving facility, and a non-revolving facility to Grupa Azoty ATT Polymers GmbH, to finance their corporate needs and implement investment plans. 

As part of its strategy until 2020, Grupa Azoty has selected 68 investment projects at various planning or completion stages to receive nearly PLN 7bn in capital support. Support from the banking sector is key to the successful completion of these projects. This funding will strengthen Grupa Azoty’s competitive position globally, driving profits for Grupa Azoty and all its shareholders. 

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