Grupa Azoty has signed annexes with its financing institutions, extending the existing standstill agreements for another period. The chemical group announced the move on Wednesday, July 1, 2026, as it continues efforts to restructure its debt and operations.
The annexes cover three separate agreements. The first, with a consortium of 11 banks including PKO BP, BGK, ING Bank Śląski and Erste Bank Polska, extends the standstill until September 30, 2026, with the option of further extensions by mutual consent. The second, with the European Investment Bank (EIB), runs to July 31, 2026, also extendable. The third, with the European Bank for Reconstruction and Development (EBRD), matches the July 31 deadline with a similar extension clause.
The company stated that the agreements allow it to continue ongoing restructuring work and to develop a long-term restructuring plan for the entire group. The standstill prevents creditors from demanding immediate repayment while talks continue.
Earlier debt restructuring steps
At the beginning of June, Grupa Azoty signed a term sheet with several banks outlining key conditions for a comprehensive debt restructuring. That agreement extended the final maturity of the financing to the end of 2030 and introduced a grace period for principal repayments until the end of June 2027. The term sheet was a crucial step toward a final restructuring deal, which the company aims to conclude in the coming months.
The group has been under financial pressure due to weak demand for fertilizers and chemicals, high energy costs and the impact of cheap imports. In the first quarter of 2026, Grupa Azoty reported a net loss of over PLN 210 million on revenues of more than PLN 3.7 billion. That compares with a loss of PLN 324.9 million in the same period last year, suggesting some improvement but still far from profitability.
Shareholders approve 2025 accounts
On June 30, the annual general meeting of Grupa Azoty approved the company’s financial statements for 2025 and granted discharge to the management board members for that year. Shareholders also passed a resolution to cover the net loss for 2025 from the company’s reserve capital. The decision underscores the group’s reliance on its balance sheet to absorb losses while it works toward a turnaround.
The company’s shares on the Warsaw Stock Exchange closed at PLN 19.75 on July 2, up 1.80% from the previous session, reflecting cautious investor optimism about the progress in restructuring talks. Analysts note that the extensions buy time but that the underlying challenges – overcapacity in the European chemical sector, high gas prices and regulatory uncertainty – remain unresolved.
Źródło: wnp.pl, Fot. Materiały prasowe / Grupa Azoty
