February 8, 2019 / 6:50 AM / 3 months ago

BRIEF-Recylex: Financial Partners Of German Sub-Group's Postpone Decision On Rights To Early Terminate Existing Financing

Feb 8 (Reuters) - RECYLEX SA:

* SAID ON THURSDAY FINANCIAL PARTNERS OF ITS GERMAN SUB-GROUP'S HAVE AGREED, ON THE BASIS OF THE CURRENT STATE OF THE ONGOING DISCUSSIONS, TO POSTPONE UNTIL MARCH 31ST 2019 THEIR DECISION ON WHETHER OR NOT TO EXERCISE THEIR RIGHTS TO EARLY TERMINATE THE EXISTING FINANCING

* THEY HAVE ALSO AGREED TO POSTPONE THE REPAYMENTS THAT WERE DUE ON DECEMBER 31ST 2018 UNTIL THAT SAME DATE

* ADDITIONAL FINANCING REQUIREMENTS OF THE GERMAN SUB-GROUP WERE REASSESSED AT €27 MILLION (VS. €26 MILLION PREVIOUSLY) FOR THE PERIOD ENDING AS OF DECEMBER 31ST 2019

* GERMAN SUB-GROUP HAS OBTAINED FROM GLENCORE INTERNATIONAL AG A €10 MILLION BRIDGE FINANCING

* TERM OF SUCH BRIDGE-FINANCING, SET ON MARCH 31ST 2019, WOULD BE POSTPONED IN CASE A GLOBAL AGREEMENT IS REACHED BETWEEN ALL THE CONCERNED PARTIES BY THAT DATE

* PRODUCTION RESUMED AT WESER-METALL GMBH’S LEAD SMELTER END OF JANUARY 2019

Source text for Eikon:

Further company coverage: (Gdynia Newsroom)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below