Grupa Azoty nears long-term debt restructuring deal with banks, CFO says (updated)

Grupa Azoty SA

11/09/2026 11:06

Adds CEO comment in paragraph 3, background in paragraph 2 and 5
By Rafal Wojciech Nowak and Tristan Veyet
Sept 11 (Reuters) - Polish chemicals group Grupa Azoty ATTP.WA is very close to finalising the terms of a long-term debt restructuring agreement with banks, finance chief Jacek Podgorski said on Friday during a conference call.
The state-controlled group has been under pressure since 2022 from elevated gas costs, while debt incurred through its flagship Polimery Police petrochemical project has forced a broad restructuring effort
Asked whether high gas prices could force it to halt installations, Chief Executive Marcin Celejewski said there had not been a single day that clearly indicated production should stop.
Podgorski also said the company had not seen indications that the sale of its Polimery Police plant to Orlen PKN.WA would be endangered by the arbitration between the Polish energy group and LyondellBasell LYB.N.
Grupa Azoty Polyolefins, the unit behind the project, entered restructuring in late 2025 covering about 6.1 billion zlotys ($1.6 billion) of undisputed claims at the time.
($1 = 3.7271 zlotys)

 (Reporting by Rafal Nowak and Tristan Veyet in Gdansk; editing by Milla Nissi-Prussak and Bartosz Dabrowski)
 ((RafalWojciech.Nowak@thomsonreuters.com; +48 58 769 66 63;))