REC Silicon - Announces the Close of a USD 7.0 million Short Term Loan with Anchor AS

Summary by AI ^BETAClose X

REC Silicon ASA has entered into a USD 7.0 million unsecured short-term loan agreement with Anchor AS, a Norwegian subsidiary of its two largest shareholders, Hanwha Solutions and Hanwha Corporation. This loan aims to address the company's immediate operational capital requirements, with terms generally aligned with existing financial agreements. The loan matures on April 13, 2026. However, REC Silicon anticipates needing additional financing beyond this loan to meet its debt service and operating cash flow needs, potentially from Hanwha or other sources, though no arrangements are yet finalized or guaranteed.

Disclaimer*

Lysaker, Norway - October 13, 2025 - REC Silicon ASA (“REC Silicon”) announced today that it has entered into an unsecured USD 7.0 million short-term loan agreement with Anchor AS to fund the company’s urgent operational capital needs.

Anchor AS is a Norwegian subsidiary of REC Silicon’s two largest shareholders: Hanwha Solutions and Hanwha Corporation.
The terms of the loan are generally in line with the financial terms of the company’s existing bank and shareholder loan agreements. The maturity date is April 13, 2026.

REC Silicon does not have sufficient available cash to meet debt service and other anticipated operating cash flow requirements going forward without the continued support of the major shareholder, Hanwha, or additional sources of capital. Therefore, it will soon require additional financing beyond this loan, either from Hanwha or from other sources of capital, none of which have yet been finalized or guaranteed.