The crisis-stricken solar cell group Obton has secured a crucial extension of its credit facility with four banks – a necessary step to ensure continued operations in connection with the attempt to save the company. The credit is a central part of the company's rescue plan, which involves a merger with the funds for which the company previously managed solar parks. However, Obton still faces major challenges, including a deficit of 1.5 billion DKK, negative equity of 612 million DKK and a police report against its subsidiary Obton Forvaltning. This is reported by Børsen.
- The status is that the credit facility has been extended, and that the work to secure the financing of the Reco project continues, Obton informs.
The company still needs to raise approximately 500 million DKK in order to be able to complete the Reco project, which will form the basis for the new company. According to Obton's prospectus, negotiations are underway with 20 international banks, and the financing should be in place during August. A final decision on the rescue plan is expected in the autumn. Here, investors must vote on the plan at an extraordinary general meeting.
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