Restructured REC starts Nkr10bn loan syndication

Renewable Energy Corporation (REC) has launched syndication of a Nkr10bn ($1.6bn) multi-currency facility, a deal fully underwritten by DnB NOR, Nordea and SEB.

  • 12 May 2010
The Norwegian solar power equipment company agreed the loan with the three underwriting banks in April as it strengthened its capital structure after almost breaching its covenants last summer. It is raising Nkr4bn from a rights issue — it’s third equity raise in the last year following a ...

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