EIB with €145 mln loan to Azoty

The European Investment Bank granted a €145 million loan to WSE-listed chemicals group Azoty. The deal is valid for 10 year period. Listed chemicals group Azoty secured up to EUR 145 mln in financing under a new long-term credit agreement with the European Investment Bank (EIB), the group said in a filing. The loan will "facilitate financing of development and modernization investments in line with BAT standards," Azoty CEO Wojciech Wardacki said. The loan will be used, among others, to build a new nitrogen acid installation in Puławy. Azoty also inked an annex to a 2015 credit deal from EIB to the amount of PLN 550 mln to harmonize important terms of the deal with the new loan agreement, the company said. At the same time, EIB granted a PLN121 million loan to the broad-gauge still-mill line operator LHS. The funds will be used to rebuild some stations and automate traffic on the line. The broad-gauge (1,520 mm) line in Poland runs from the border with Ukraine near Hrubieszów to Sławków near Katowice.