REC Silicon - Announces the Close of a USD 13.0 million Short Term Loan with Anchor

Summary by AI BETAClose X

REC Silicon ASA has extended an unsecured USD 13.0 million short-term loan agreement with its largest shareholder, Anchor AS, a subsidiary of Hanwha Corporation and Hanwha Solutions, with the new maturity date set for November 14, 2026. The company acknowledges it lacks sufficient cash to meet its upcoming debt service and operating cash flow requirements without continued support from Hanwha or other unfinalized capital sources, indicating a need for further financing.

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