Brief: Grupa Azoty ZC Police EGM To Vote On Granting Loans To GA Polyolefins

Grupa Azoty Zaklady Chemiczne Police SA

22/01/2020 10:51

Jan 22 (Reuters) - GRUPA AZOTY ZAKŁADY CHEMICZNE POLICE SA
 PCE.WA :
    * SAID ON TUESDAY THAT EGM WILL VOTE ON FEB 17 ON APPROVAL
FOR
GRANTING GRUPA AZOTY POLYOLEFINS UP TO 390 MILLION ZLOTYS TOTAL
IN LONG-TERM SUBORDINATED CASH LOANS WITH REGARD TO PLANNED
PRIVILEGED DEBT FINANCING
    * THE PURPOSE OF THE LOANS IS TO PROVIDE FINANCING FOR PART
OF THE
COMPANY'S FINANCIAL CONTRIBUTION TO GA POLYOLEFINS' "POLIMERY
POLICE" PROJECT
    * THE VOTE WILL ALSO INCLUDE APPROVAL FOR GRANTING GRUPA
AZOTY
POLYOLEFINS THE EQUIVALENT OF UP TO EUR 105 MILLION IN LONG-TERM
SUBORDINATED CASH LOANS WITH REGARD TO PLANNED PRIVILEGED DEBT
FINANCING, WHICH MAY BE GRANTED IN THE FUTURE AS A FORM OF
IMPLEMENTING COMMITMENTS ARISING FROM THE GUARANTEE REQUIREMENTS
OF THE CREDITORS OF GA POLYOLEFINS FOR PROJECT COMPLETION,
EXCEEDED CAPITAL EXPENDITURE COVERAGE, OPERATIONAL COST COVERAGE
AS WELL AS GA POLYOLEFINS DEBT SERVICING COVERAGE

    
 Source text for Eikon:  urn:newsml:reuters.com:*:nEM9KHy4Fa
    
 Further company coverage:  PCE.WA  
   


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