sparviero7000
Forumer storico
Solarworld
SWVGR EUR 6.375% July 2016 25 – 28
SWVGR EUR 6.125% January 2017 25 – 28
Restructuring
Today Sueddeutsche Zeitung reported that under current restructuring plan the founder and CEO of the company, Frank Asbeck will see his stake reduced from 28% to just 1.4% as bondholders will receive substantial portion of the equity by extinguishing their claims. Asbeck is thought to be considering making a further investment in Solarworld, taking his stake higher again at some point in the future, the report added, without identifying sources. The article predicted that Solarworld will be majority-owned by banks and hedge funds.
The report also claimed that the plan can be voted on as early as this week and several major creditors have already agreed to the proposal. The company currently has more than €1bn in liabilities, according to the newspaper. The daily was informed that the likely future success of Solarworld will be greatly affected by whether EU competition authorities impose tolls on the cheaper imports of rival suppliers from China, as expected.
sulla 17 39k in lettera a 25,5 (lussemburgo)