REC Silicon - Announces close of USD 10m Short Term Loan with Anchor AS

Summary by AI BETAClose X

REC Silicon ASA has secured an unsecured USD 10.0 million short-term loan from Anchor AS, a subsidiary of its largest shareholders, to address urgent operational capital needs. This loan, with identical terms to a previous USD 13.0 million facility and a maturity date of July 19, 2026, highlights the company's current lack of sufficient cash to meet its financial obligations without continued support from its major shareholder, Hanwha, or other unfinalized financing sources.

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