“Orlen demands from the Subsidiary the immediate repayment of all amounts due to Orlen under the Loan Agreement, including default interest on the overdue amounts in accordance with the Loan Agreement,” Grupa Azoty informs. As added, as of January 28, 2026 the amounts due to Orlen under the contract together with interest amount to USD 28.7 million. The statement shows that Orlen granted Grupa Azoty Polyolefins “a loan to finance the purchase of propane.”
The loan repayment request does not affect Orlen’s plans regarding GA Polyolefins
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In the statement, Grupa Azoty emphasizes that the repayment request is a consequence of the failure to repay the loan and the expiry of the stabilization agreement on September 30, 2025 and is of a formal nature. “The liability was incurred by Grupa Azoty Polyolefins and is not subject to recourse against Grupa Azoty,” we read in the release. At the same time, as added, Orlen’s request has no impact on the plans of the Płock concern related to the purchase of shares of Grupa Azoty Polyolefins.
“Orlen’s actions are consistent with standard procedures”
– We assess that Orlen’s actions are consistent with standard procedures applicable to financial relations of this type they do not affect the Continued restructuring process of the Atta Polylephins of the Asa Polylephins. The company is conducting proceedings to approve the arrangement, the aim of which is to sort out its financial situation and agree on the terms of repayment of liabilities with creditors, comments Andrzej Skolmowski, president of the management board of Grupa Azoty. As he emphasized, “the actions taken by creditors do not affect the current operating activities or the implementation of the basic business objectives of the Azoty Group.
Restructuring at Grupa Azoty Polyolefins
Let us recall that in September 2015, Grupa Azoty established a special purpose vehicle – Grupa Azoty Polyolefins. She was to be responsible for the “Polimery Police” project – one of the largest investments in the chemical industry. However, the large complex with complex installations and a transhipment and storage terminal was never completed. Therefore, the situation was so bad that the company’s management board decided to conduct restructuring proceedings as part of the arrangement approval procedure (PZU).
“This decision results from the loss of the ability of Grupa Azoty Polyolefins to repay current liabilities and was preceded by an analysis of available recovery tools that are intended to enable the company’s continued operation,” Grupa Azoty reported. – The aim of the proceedings is to sort out the issue of the project company’s debt and reach an agreement with creditors so that the company can continue to operate stably, and the continuation of the Polimery Police project was realistically possible – Andrzej Skolmowski said a few months ago.
Problem with loans
Meanwhile, Bank Pekao announced that, as the loan agent, it had informed about “the liabilities arising from the privileged loan agreement – term, working capital and VAT of May 31, 2020”. Grupa Azoty Polyolefins failed to repay over PLN 3.9 billion. The bank set the company a deadline for repayment of liabilities by January 23 this year. GA Polyolefins did not make the payment “because it does not have the funds to settle these liabilities,” Grupa Azoty told the Polish Press Agency quoted by WNP.pl. As it was added, the company “is conducting talks with creditors in order to reach an agreement.”
