More
Search
Grupa Kapitałowa Grupa Azoty
Choose a company
Grupa Azoty S.A., acting on behalf of itself and selected companies within the Grupa Azoty Capital Group, has signed an Annex to the Agreement originally dated February 2 of this year as subsequently amended. The Agreement's validity has been extended until March 31, 2025, contingent on periodic approvals from the Financial Institutions, scheduled for December 31, 2024, January 31, 2025, and February 28, 2025.
“As we communicated during the signing of the October Agreement, over the past two months, we have presented the Financial Institutions with the strategic directions for the Capital Group’s operations. The negotiated Agreement ensures the financial stability of the Group, which is critical given the scale of the restructuring process. We continue to engage in constructive dialogue with the Financial Institutions while simultaneously working on a comprehensive transformation of our business model,” said Andrzej Skolmowski, Vice President of the Management Board of Grupa Azoty S.A..
The Annex guarantees continued access to credit limits under the Financing Agreements and prevents the Financial Institutions from canceling or reducing these limits. It also restricts the enforcement of rights arising from potential breaches of the Financing Agreements during the Agreement’s validity.
With the consent of the Financial Institutions, the Agreement may be further extended. Grupa Azoty emphasizes that it continues to meet all obligations related to servicing and repayment under the Financing Agreements. The available credit limits ensure the liquidity and financial security of Grupa Azoty, enabling it to meet its obligations to suppliers and maintain uninterrupted operations.
The Annex 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 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. Branch in Frankfurt, as well as the European Bank for Reconstruction and Development and the European Investment Bank.