Brief: REC Silicon Enters USD 40 Mln Term Loan, Terminates Granular Polysilicon Supply Agreement

Rec Silicon ASA

27/01/2025 06:39

Jan 27 (Reuters) - REC Silicon ASA  RECSI.OL :
    * SAID ON FRIDAY ITS UNIT HAD ENTERED INTO USD 40 MLN TERM
LOAN
    * MATURITY DATE IS JANUARY 24, 2026
    * LOAN TO SUPPORT REC SILICON'S CAPITAL NEEDS DURING
SHUTDOWN
PROCESS AT MOSES LAKE
    * ENTERED INTO MUTUALLY AGREEABLE TERMINATION AGREEMENT WITH
QCELLS, ITS CUSTOMER FOR GRANULAR POLYSILICON PRODUCED AT MOSES
LAKE
    * REIMBURSEMENT OF PREPAYMENT OF USD 30 MLN BY REC SILICON
TO
QCELLS HAS BEEN DELAYED FOR ONE YEAR 
    * BOTH LOAN AND TERMINATION OF POLYSILICON SUPPLY AGREEMENT
WILL
ENABLE CO TO CONCENTRATE ON ITS SILICON GAS BUSINESS

        
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