SolarWorld AG: Special repayment from excess liquidity causes technical halt of bond trading

Since SolarWorld AG had excess liquidity, special repayments will be made for the company’s bonds
Since SolarWorld AG had excess liquidity, special repayments will be made for the company’s bonds

As at December 31st, 2015, SolarWorld AG (Bonn, Germany) had excess liquidity compared with an amount contractually agreed upon with the financial creditors as part of the financial restructuring, the PV company announces.

Therefore, special repayments will be effected to both SolarWorld bonds on April 12th, 2016.

The nominal amount of each note will be reduced by the amount of the respective repayment. In coordination with the involved institutions, the stock trading of both bonds, SolarWorld FRN IS. 2014/2019 Series 1116 and SolarWorld FRN IS. 2014/2019 Series 1017, will presumably be temporarily suspended to enable the technical implementation of the partial repayments.

Last trading day will presumably be Wednesday, April 6th, 2016. Trading is expected to recommence on Tuesday, April 12th, 2016.

Furthermore, the loan agreements contain a provision that special repayments are to be deducted from future scheduled repayments. Due to the respective special repayments of March 31st, 2015 and 2016 as well as the special repayment that will be effected on April 12th , 2016, the scheduled partial repayment originally planned for June 30th, 2016 is considered as already made.

 

2016-04-05 | Courtesy: SolarWorld AG | solarserver.com © Heindl Server GmbH

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