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Grupa Kapitałowa Grupa Azoty
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Grupa Azoty S.A., on behalf of itself and selected companies within the Grupa Azoty Capital Group, has signed an Amendment to the Agreement dated February 2, 2024, with subsequent modifications. The duration of the Agreement has been extended until November 29, 2024.
"We are entering the next phase of negotiations with the banks, during which we will present the strategic directions for the Capital Group's operations, with the aim of finalizing a long-term agreement. In addition to the ongoing corrective actions, which have already shown positive results in the first half of the year, we face the significant challenge of fertilizer imports from Russia and Belarus. Alarmingly high volumes of imported fertilizers from these regions are severely undermining the competitiveness of domestic and European fertilizer producers. The decisive factor in the purchase of fertilizers from Russia and Belarus is their lower price, driven by lower gas costs and the absence of CO2 emission fees," said Andrzej Skolmowski, Vice President of the Management Board of Grupa Azoty S.A.
The signing of the Amendment to the Agreement ensures the continued availability of limits under the Financing Agreements, with financial institutions agreeing not to take actions aimed at canceling or reducing the available limits. Additionally, certain rights under the Financing Agreements, related to breaches or potential breaches, will not be exercised during the term of the Agreement. The Agreement may be further extended with the consent of the financial institutions.
The company emphasizes that it consistently meets all obligations related to the servicing and repayment of liabilities under the Financing Agreements. The available limits under these agreements ensure liquidity, financial security for Grupa Azoty, and the fulfillment of obligations to suppliers, ensuring continuity of operations.
The Amendment was signed with the following financial institutions: Powszechna Kasa Oszczędności Bank Polski S.A., Bank Gospodarstwa Krajowego, ING Bank Śląski S.A., Santander Bank Polska S.A., Caixabank S.A. Poland Branch, BNP Paribas Faktoring sp. z o.o., ING Commercial Finance Polska S.A., Pekao Faktoring sp. z o.o., BNP Paribas Bank Polska S.A., Santander Factoring sp. z o.o., Banco Santander S.A. Frankfurt Branch, as well as the European Bank for Reconstruction and Development and the European Investment Bank.