Brief: Grupa Azoty Unit Signs Loans Agreement For Financing "Polimery Police" Project

Grupa Azoty Zaklady Chemiczne Police SA

01/06/2020 10:11

June 1 (Reuters) - Grupa Azoty SA  ATTP.WA :
    * SAID ON SUNDAY THAT ITS UNIT GRUPA AZOTY POLYOLEFINS HAS
SIGNED
LOANS AGREEMENT AIMED AT OBTAINING PRIVILEGED DEBT FINANCING
NECESSARY FOR IMPLEMENTATION OF "POLIMERY POLICE" INVESTMENT
PROJECT
    * THE LOANS AGREEMENT WAS CONCLUDED WITH CONSORTIUM OF
FINANCIAL
INSTITUTIONS WHICH INCLUDES: ALIOR BANK, BGK, BOŚ, BANK PEKAO,
BNP PARIBAS BANK POLSKA, EUROPEAN BANK FOR RECONSTRUCTION AND
DEVELOPMENT, INDUSTRIAL AND COMMERCIAL BANK OF CHINA (EUROPE)
POLAND BRANCH, MBANK, PKO BP, PZU, PZU NA ŻYCIE, PZU FIZAN BIS
2, SANTANDER BANK POLSKA AND ICBC STANDARD BANK PLC  
    * THE LOANS AGREEMENT PROVIDES GRANTING OF THE FOLLOWING
LOANS BY
THE CONSORTIUM: UP TO EUR 487.8 MLN TERM LOAN FOR FINANCING OR
REFINANCING THE COSTS OF THE PROJECT DURING THE CONSTRUCTION
PHASE; UP TO $537.7 MLN TERM LOAN FOR FINANCING OR REFINANCING
THE COSTS OF PROJECT DURING THE CONSTRUCTION PHASE; UP TO 150.0
MLN ZLOTY REVOLVING LOAN FOR FINANCING OR REFINANCING VAT
PAYMENTS ON THE COSTS OF THE PROJECT DURING THE CONSTRUCTION
PHASE; UP TO $180.0 MLN REVOLVING LOAN FOR FINANCING OR
REFINANCING OF OPERATIONAL COSTS AND WORKING CAPITAL OF
POLYOLEFINS 
    * IN ADDITION THE COMPANY AND GA ZAKLADY CHEMICZNE "POLICE"
HAVE
CONCLUDED WITH POLYOLEFINS AND BANK PEKAO UP TO EUR 105.0 MLN
SUPPORT LOAN FOR COVERAGE OF POTENTIAL LIQUIDITY DEFICIT ,
EXCEEDED CONSTRUCTION COSTS, OPERATIONAL COSTS AND DEBT SERVICE
IN THE OPERATING PERIOD

    
    
 Source text for Eikon:  urn:newsml:reuters.com:*:nEMgW7G6a
    
 Further company coverage:  ATTP.WA  
   


 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 778 51 10))