BREAKING: Wallbox will restructure its debt until the end of 2030 and will carry out a capital increase of 10.65 million
New information reveals that the following story has emerged from the international scene.
Wallbox, the Catalan charging point company, has reached an agreement to restructure its debt. A liability that since last summer stood at 169.6 million euros. This plan has been agreed with the main financial creditors, which represent more than 83% of the company’s financial debt, as well as the main shareholders and institutional investors through a capital increase. Among them are Banco Santander, BBVA, CaixaBank and other credit institutions such as the Official Credit Institute, the Institut Català de Finances, Mora Banc Grup, EBN Banco de Negocios and Cofides. The new financing agreement is expected to be signed on April 8. Through this process, Wallbox aims to stabilize its capital structure, ensure sufficient liquidity to execute its business plan, and better align its future debt obligations with expected cash generation. All this after the company declared bankruptcy. The new agreement includes revised maturities, amortization profiles and interest conditions. Now, Wallbox will also have to carry out a capital increase of 10.65 million euros, as well as new financing of up to 12.5 million euros from participating banks. This new financing will be backed by strategic shareholders, who will provide a capital injection of up to 5.65 million euros. Among these strategic shareholders are Orilla Asset Management, the investment vehicle of the Riberas family, Inversiones Financieras Perseo (Iberdrola Group), AM Gestio, Consilium, Mingkiri and Enric Asunción, co-founder and CEO of the company who will carry it out through another investment vehicle. But a capital injection of 5 million euros is also expected from the Generalitat of Catalonia through IFEM (Financial Instruments for Innovative Companies). Participating banks will also offer financing of up to €12.5 million to support the company’s working capital and optimize its treasury management, with 50% of the credit line guaranteed by an export credit agency. Debt restructuring As far as debt restructuring is concerned, the banks will provide a framework loan of 57.6 million euros maturing in December 2030. Said amortization will begin in the third quarter of this year and will have a progressive profile until 2030. Wallbox will also have a bullet instrument of 69.1 million euros, also maturing in December 2030, with interest paid in kind capitalized and repayable at maturity. Likewise, the charging point company will have a working capital framework agreement for an approximate amount of 42.8 million euros, which retains the key characteristics of working capital financing within a syndicated structure maturing on December 31, 2030.
Analysis and Perspective:
This report highlights significant developments in the international landscape that could reshape diplomatic relations in the coming weeks.
This is part of a broader trend that has been reshaping the geopolitical landscape in recent months.
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Source: This article was originally published in another language by El Español – Home and has been translated and adapted for our global English-speaking audience. Read the original article here.