Brief: Soltec Signs Restructuring Plan With Investor And Creditors
28/07/2025 07:35
July 28 (Reuters) - Soltec Power Holdings SA SOLPW.MC:
SAID ON SATURDAY, TOGETHER WITH SOLTEC ENERGIA RENOVABLES ('SER'), INVESTOR AND CREDITORS, IT SIGNED RESTRUCTURING PLAN AND REQUESTED JUDICIAL APPROVAL
PLAN SUBJECT TO FULFILMENT OF IMPLEMENTATION PRECEDENT CONDITIONS
PLAN, AMONG OTHERS, TO REDUCE DEBT TO 255 MILLION EUROS, ALLOW INVESTOR TO ENTER CO'S SHARE CAPITAL
WHEN SIGNED, INVESTOR TO DISBURSE 30 MILLION EUROS UNDER LOAN AGREEMENT, WHICH WILL BE REPAID AND ALLOW INVESTOR TO SUBSCRIBE FOR 80% OF SOLTEC'S CAPITAL
TO THIS END, SOLTEC NEEDS TO SIMULTANEOUSLY CARRY OUT CAPITAL REDUCTION AND INCREASE
TO CARRY OUT RESTRUCTURING PROCESS, SOLTEC CAP AGREES DEBT RESTRUCTURING WITH PINO INVESTMENTS
SOLTEC DEVELOPMENT AGREES WITH CERTAIN CREDITORS AND SEFRAN TO NOVATE TERMS OF INDEBTEDNESS
SOLTEC ALSO REACHES AGREEMENT TO REDUCE SER'S WORKFORCE BY 156 WORKERS
Source text: nCNM4HTjbx; nL8N3TP06Q
Further company coverage: SOLPW.MC
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