Noteholders back SolarWorld restructuring

Share

Beleaguered German solar panel manufacturer SolarWorld AG today took another step towards a restructuring of the company intended to reduce its debts.

The first of three crucial votes in three days endorsed the Bonn-based company‘s restructuring proposals.

With 35.78 per cent of the holders of the company’s outstanding 2011/16 notes present at a vote in Bonn – the necessary quorum was 25 per cent – 99.96 per cent of the noteholders backed a proposed debt to equity swap.

The next hurdle comes tomorrow when holders of the outstanding 2010/17 notes will vote on the same plans.

If tomorrow’s show of hands endorses the restructuring, an extraordinary shareholders’ meeting will be held on Wednesday to vote on the plans.

Popular content

This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.

Share

Related content

Elsewhere on pv magazine...

Leave a Reply

Please be mindful of our community standards.

Your email address will not be published. Required fields are marked *

By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.

Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.

You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.

Further information on data privacy can be found in our Data Protection Policy.