Grupa Kapitałowa Grupa Azoty
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Grupa Azoty Polyolefins and Orlen have signed a working capital financing agreement for an amount not exceeding USD 28 million to finance the purchase of propane by Grupa Azoty Polyolefins. The agreement sets out the terms of this financing and the repayment conditions. Propane is used in the Polimery Police plant for the production of propylene.
Parallel to this agreement, Grupa Azoty and Orlen continue to cooperate in determining the terms and conditions of a potential transaction in which Orlen, or another entity designated by Orlen, may acquire all or part of Grupa Azoty Polyolefins' shares held by Grupa Azoty or execute the investment in another form. Orlen is currently conducting a due diligence review of Grupa Azoty Polyolefins.
The security for the receivables arising from the working capital financing agreement of March 17 has been established through an annex to the Intercreditor Agreement dated October 7, 2020.