SGL Carbon announces refinancing
STAFF REPORT | Hagadone News Network | UPDATED 1 year, 9 months AGO
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.
MORE STORIES
ARTICLES BY STAFF REPORT
UPDATED: Water main break closes section of Mart Road
MOSES LAKE — A water main break is temporarily limiting access to businesses in the 900 block of Stratford Road. Moses Lake city officials said Monday afternoon that a section of the westbound lane of Mart Road will be closed while repairs are underway. Drivers still will have access to WinCo, Sportsman’s Warehouse and the other businesses in that block from Central Drive, said Lynne Lynch, Moses Lake communications and marketing specialist. The road will be closed until further notice.
The Shack to hold grand opening tomorrow
MOSES LAKE — The Shack will hold its grand opening tomorrow from 10 a.m. to 5 p.m. in downtown Moses Lake. The Shack, owned by Rick Rodriguez, will carry electronic accessories similar to those carried by the now-defunct Radio Shack chain. Rodriguez previously owned the Radio Shack store in Moses Lake before the chain folded in the 2010s. The Shack is the first business to take up occupancy in the Moses Lake Chamber of Commerce’s business incubator at 301 W. Broadway Ave., according to the chamber.
Collision kills driver near Quincy
QUINCY — Adams Road near Quincy was closed for about three and a half hours Wednesday afternoon due to a collision between a semi-truck and a passenger vehicle. The car’s driver was killed in the crash. The collision occurred at about 12:45 p.m., according to a release from the Grant County Sheriff’s Office, between Road 5 Northwest and Road 6 Northwest. The driver’s name was withheld pending notification of family members, said Kyle Foreman, GCSO public information officer. The case is still under investigation.