Struggling Solar-Panel Maker Meyer Burger Secures Bridge Loan
- New debt facility allows negotiations with DESRI to continue
- Firm aims to come up with longer-term overhaul of debt
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Solar-module manufacturer Meyer Burger Technology AG has secured bridging financing from a group of its existing creditors, to tide it over while it negotiates with its largest customer.
The Swiss-listed company secured a bridge facility of $39.48 million from funds including Highbridge Capital Management and Walleye Capital LLC, according to a statement Friday. The loan, due on January 17, also buys time to negotiate a longer-term debt overhaul.