Brief: Advanced Soltech Requests Two Bond Extensions

Gigasun AB (publ)

16/12/2022 07:35

Dec 16 (Reuters) - Advanced SolTech Sweden AB (publ)
 ASAB.ST :
    * ADVANCED SOLTECH REQUESTS AN EXTENSION OF THE BONDS, SOLT5
AND
SOLT2
    * ADMINISTRATIVE PROCESSES ASSOCIATED WITH REFINANCING FROM
CHINA
IT HAS TAKEN LONGER TIME THAN EXPECTED
    * REPAYMENT OF SOLT5 AND SOLT2 BONDS ON THEIR RESPECTIVE DUE
DATES, JANUARY 25 AND FEBRUARY 28, 2023, WILL NOT BE MET
    * PROPOSAL MEANS THAT AGREEMENT WITH COMPANY IS EXTENDED
WITH
APPROXIMATELY 5 MONTHS
    * GIVEN ONGOING PROCESSES, IT IS COMPANY'S ASSESSMENT THAT
REPAYMENT OF BONDS WILL BE CARRIED OUT BEFORE 8TH OF JULY 2023.
    * BONDHOLDERS WILL BE COMPENSATED FOR EXTENSION AND INTEREST
IS
PAID IN SAME WAY AS BEFORE

Source text for Eikon:  ID:nMFN1SYCDN 
Further company coverage:  ASAB.ST 
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