Wednesday, December 11, 2024
32.0°F

SGL Carbon announces refinancing

by STAFF REPORT
Staff Report | July 10, 2023 5:55 PM

WIESBADEN, Germany — SGL Carbon has announced that it has successfully completed refinancing and has fully redeemed its corporate bond. As of March 31, its corporate debt has dropped to €174 million — about $191.5 million.

“With the successful completion of the refinancing, we are now ideally positioned to focus on the expansion of our profitable businesses in the coming years,” said Torten Derr, CEO of SGL Carbon SE.

The company announced Monday that it would redeem the remaining outstanding shares of its corporate bond for €237.4 million ($261.3 million) using funds from the successful placement of a convertible bond in June of 2023 and a €75 million ($82.5 million) term loan from the company’s core banks in March, as well as existing liquid funds.

"The successful placement of the two convertible bonds and the extension of the credit facilities demonstrate the confidence of investors and banks in the future prospects of SGL Carbon and its long-term growth strategy," said Thomas Dippold, SGL Carbon CFO.

The company operates a facility in Moses Lake.