Brief: REC Silicon Signs Additional Loan Deal In U.S.

Rec Silicon ASA

19/08/2024 13:25

Aug 19 (Reuters) - REC Silicon ASA  RECSI.OL :
    * SAID ON FRIDAY UNIT REC SILICON INC ENTERED INTO
ADDITIONAL USD
20 MILLION FACILITY LOAN FROM STANDARD CHARTERED BANK IN NEW
YORK 
    * LOAN IS AMENDMENT TO EXISTING FACILITY LOAN OF $30 MILLION
    * NEW LOAN WILL STRENGTHEN LIQUIDITY POSITION AND HELP
BRIDGE
FINANCING GAP UNTIL FIRST PRODUCT SHIPMENT FROM MOSES LAKE WHICH
IS EXPECTED BY MIDDLE OF SEPTEMBER - CEO
    * ADDITIONAL FACILITY LOAN IS FULLY GUARANTEED BY REC
SILICON'S
LARGEST SHAREHOLDER HANWHA SOLUTIONS AND WILL MATURE ON JUNE 13,
2025

        
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