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Solarworld Bonds Plunge With Shares on Push for Debt Revamp
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Solarworld AG slid the most in 13 years in Frankfurt and its bonds due 2017 dropped as much as 43 percent after the company said it needs to make “serious adjustments” to its debt structure.
Germany’s biggest maker of solar panels said last night that external financial advisers suggested action to restructure its debt after a review of earnings prospects. The company’s 400 million euros ($537 million) of 6.125 percent bonds due 2017 dropped to 19 cents on the euro at 12:50 p.m. in London after earlier falling to as low as 18 cents.