As anticipated, the proposed restructure of debt laden German solar company SolarWorld AG came another step nearer after a vote among noteholders in Bonn today.
Following yesterday's yes vote from the 99.96 per cent of the 35.78 per cent of outstanding holders of SolarWorld 2011/16 notes, there was another resounding endorsement of restructuring plans from representatives of the other oustanding notes, for 2010/17 creditors.
With a quorum of 25 per cent of outstanding noteholders again required, some 37.8 per cent of noteholders were represented in Bonn and an even more emphatic 99.8 per cent of representatives backed a proposed debt for equity swap intended to reduce SolarWorld‘s debt pile.
The final hurdle to overcome will be faced tomorrow (Wednesday), when the restructuring proposals are put to the vote of an extraordinary shareholders' meeting, again in Bonn.
Götz Fischbeck, of German private bank Bankhaus Lampe told pv magazine, though, the most difficult obstacles to the restructure had now been overcome.
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.
Popular content
pv magazine
Related content
-
Key takeaways from Solar + Storage EspañaRE+ held the Solar + Storage España event in Barcelona on May 10 and 11, in collaboration with <b>pv magazine</b>. Our...
-
Japan’s PV sector should focus on future energy mix target — reportThe Japanese PV industry should respond to the government’s recent decision to leave its 2030 energy mix targets uncha...
Subscribe to our global magazine
Our events and webinars
-
Roundtables Europe 2024This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse...
-
Guide for Installers: Expanding into C&I with Flexible Storage SolutionsIn this webinar, we will provide insights to flexible, easy-to-install solutions developed to meet evolving C&I custom...
-
Smarter trackers: Real data insights from TrinaTracker’s smart control system applicationsIn this pv magazine Webinar we’ll explore how digitalization of the tracker industry can improve solar plant yields, d...
pv magazine print
-
pv magazine Awards BESS: Taking on challengesBattery energy storage system (BESS) deployment is continuing at pace, meaning high safety standards and effective ope...
-
pv magazine Awards manufacturing: More than a flashAs PV manufacturing continues to scale, spotting kinks early on in production has never been more important. While man...
-
Ampin’ up India’s commercial solarAmpin Energy Transition has worked on hundreds of renewable energy projects in India, from initial development to oper...
-
A numbers game: AI for PV faultsAs part of his work as guest researcher at the Fraunhofer Institute for Solar Energy (ISE), <b>Mücahid Candan</b> spec...
Keep up to date
This website uses cookies to anonymously count visitor numbers. View our privacy policy.
The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.
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.