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Grupa Kapitałowa Grupa Azoty
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Grupa Azoty S.A. has signed an annex to the agreement dated February 2, 2024, as amended, on behalf of itself and selected companies from the Grupa Azoty Capital Group. This extension, valid until July 30, 2024, allows for continued development of a long-term restructuring plan for Grupa Azoty.
"The signing of this agreement is positive news, giving us additional time to prepare a long-term restructuring plan. It is worth noting that previous annexes were concluded for just one month. We now have a specific action plan for the coming weeks to stabilize the Group’s financial situation," said Andrzej Skolmowski, Vice President of the Management Board of Grupa Azoty S.A.
The annex ensures the continued availability of limits under the financing agreements and prevents the financial institutions from taking actions to cancel or reduce the available limits of the agreements. It also prevents the exercise of certain rights arising from the financing agreements due to their breach or potential breach during the term of the agreement. With the financial institutions' consent, the agreement may be further extended.
The Company emphasizes that it consistently fulfills all arrangements regarding the servicing and repayment of obligations under the financing agreements. The limits available therein ensure the liquidity and financial security of Grupa Azoty and its obligations to suppliers and the continuity of operations.
The annex, effective from May 28, 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. Branch in Poland, BNP Paribas Factoring 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., and Banco Santander S.A., Frankfurt Branch, as well as the European Bank for Reconstruction and Development and the European Investment Bank.