Meyer Burger Secures USD 39.48 Million Bridge Financing Amid Negotiations

Meyer Burger Technology AG has secured a USD 39.48 million bridge financing facility to stabilize its operations and provide liquidity. This arrangement comes during ongoing negotiations with DESRI and bondholders. The secured loan, backed by current bondholders, is designed to support the company's restructuring efforts, ensuring a stable financial outlook.

The agreement allows Meyer Burger to draw funds in stages, with an initial tranche of USD 19.7 million available immediately. This financing is critical to meet the company's goals of reaching full production capacity and achieving a sustainable financial structure. The maturity date for the facility is set for January 17, 2025.

Discussions with DESRI focus on a potentially renewed agreement that reflects changes in Meyer Burger’s financial situation. Success in these negotiations could further bolster the company’s position in the U.S. solar market. Meyer Burger has engaged Alvarez & Marsal as restructuring advisors to enhance its operational transformation.