Ciech

Szukaj
WCAG A A A

Press releases

The CIECH Group has obtained long-term financing for the further development of its activity

CIECH Group companies have entered into a loan agreement with a consortium of banks in order to obtain attractive financing with a total value of over PLN 2 billion, allowing for the extension of the maturity of the current debt structure. The obtained 5-year financing will allow for the further development of the Group's operating activities on a horizon going beyond the currently implemented strategy, covering the years 2019-2021. In spite of demanding market conditions, the Group managed to obtain financing conditions that are favourable in terms of duration of the loan period, financing costs, repayment grace period and flexibility in terms of dividend payment and developing the financing structure.

 

The financing structure includes obtaining an amortised term loan (of PLN 560 M), a non-amortised term loan (of PLN 1,305 M) and a revolving credit facility with a value of PLN 250 M. The agreement signed with a consortium of leading Polish financial institutions stipulates very competitive conditions, both in terms of financial parameters, the repayment mechanism (incl., among others, a grace period of over 2 years) and other contractual provisions.

 

The new agreement extends the maturity dates of loans obtained in 2015-2019. Thus, the debt structure will be better suited for the Group's operations, and given the negotiated terms, it is also possible to reduce expenses related to the debt service.

 

- The executed loan agreement does not only entail attractive financial parameters for the Group, but also organises and extends the maturity of debt financing, available to the largest companies of the Group. In turn, this will allow for the dynamic implementation of the ambitious development plan of our business operations, through easy and reliable access to funds allocated for investments – says Dawid Jakubowicz, President of the Management Board of CIECH S.A.

 

- It should be emphasised that the negotiations were conducted in difficult conditions of the pandemic. Despite this, we were able to optimise the debt structure and ensure the possibility to secure interest rates at attractive levels, which will ultimately contribute to the reduction of debt service expenses in the coming years. The new financing also means the ability to maintain a comfortable buffer in the acceptable level of the CIECH Group’s debt, defined in the form of the covenant as a net debt to EBITDA ratio – at a maximum level of 4.0. The agreement contains provisions favourable to the Group with regard to, among others, the ability to pay dividends and incur additional debt – including subordinated debt – within the allowed net debt to EBITDA ratio – adds Jarosław Romanowski, Member of the Management Board of CIECH S.A., responsible for the Group’s finances.

 

The agreement was executed between CIECH S.A. and its subsidiaries (CIECH Soda Polska S.A., CIECH Sarzyna S.A., CIECH Soda Deutschland GmbH & Co. KG, CIECH Energy Deutschland GmbH and CIECH Salz Deutschland GmbH), and the following banks: Powszechna Kasa Oszczędności Bank Polski S.A., mBank S.A., BNP Paribas Bank Polska S.A., Industrial and Commercial Bank of China (Europe) S.A. Branch in Poland, Bank Polska Kasa Opieki S.A., Bank Millennium S.A., Credit Agricole Bank Polska S.A., Société Générale S.A., Bank Handlowy w Warszawie S.A., Bank Ochrony Środowiska S.A. and Intesa Sanpaolo S.P.A. S.A. Branch in Poland.

 

The Extraordinary General Meeting of CIECH S.A. has authorised the conclusion of the pledge agreement and establishment of a registered pledge, being the conditions of the concluded loan agreement.

 

Kontakt dla mediów:

Mirosław Kuk, Rzecznik Prasowy Grupy CIECH

miroslaw.kuk@ciechgroup.com, tel. +48 723 66 86 86.

 

CIECH to międzynarodowa, rozwijająca się grupa chemiczna z silną pozycją na rynkach globalnych. Jest drugim producentem sody kalcynowanej i oczyszczonej w Unii Europejskiej, największym producentem soli warzonej w Polsce, największym dostawcą krzemianów sodu w Europie, największym polskim producentem środków ochrony roślin oraz wiodącym w Polsce producentem pianek poliuretanowych. Posiada fabryki w Polsce, Niemczech i Rumunii oraz zatrudnia ponad 3 tysiące osób w całej UE.

Od 2005 roku spółka CIECH S.A. notowana jest na Giełdzie Papierów Wartościowych w Warszawie, a od 2016 roku, równocześnie, na jednej z największych giełd w Europie - Börse Frankfurt. Rozwój Grupy wspiera inwestor strategiczny – Kulczyk Investments.

Jako jeden z największych polskich eksporterów, CIECH wysyła swoje towary na niemal wszystkie kontynenty. Powstają z nich artykuły niezbędne w codziennym życiu milionów ludzi na całym świecie, dlatego Grupa jest ważnym elementem wielu gałęzi gospodarki – budownictwa, motoryzacji, rolnictwa, przemysłu chemicznego, spożywczego czy farmaceutycznego.

CIECH łączy nowoczesne podejście do biznesu z dbałością o zrównoważony rozwój. Od 2020 roku jest członkiem United Nations Global Compact – największej na świecie inicjatywy skupiającej przedsiębiorstwa odpowiedzialne społecznie, środowiskowo i ekonomicznie.

Więcej informacji o Grupie CIECH można znaleźć na stronach www.ciechgroup.com oraz www.ciechdlagospodarki.pl.

Do góry