Grupa Azoty enters 2nd credit agreement with EBRD

Chemical and fertilizer producer Grupa Azoty and European Bank for Reconstruction and Development (EBRD) signed a new long-term loan agreement and an annex to the long-term loan agreement from May 28, 2015, the company said. The second credit agreement with EBRD is for up to PLN 500 million and for a period of up to ten years. The credit will be repaid in installments, starting within three years from the agreement date. The group's three units: Grupa Azoty Zakłady Azotowe Puławy, Grupa Azoty Zakłady Azotowe Kędzierzyn and Grupa Azoty Zakłady Chemiczne Police and the parent company entered into a new guarantee agreement with EBRD under which the subsidiaries provided guarantees for the company’s liabilities under the second EBRD agreement. Each guarantee is meant to cover up to one-third of 120 percent of the loan or up to PLN 200 million, according to the company's statement.