Advanced Soltech repays the green bond SOLT3 of SEK 148 million on August 3 with funds from the sales and leaseback solution with Jiang Su Leasing of approximately SEK 820 million and the directed share issue of approximately SEK 140 million. The company has thereby repaid all bonds (SOLT 2, 3 and 5) totaling SEK 905 million that have matured in 2023.
Advanced Soltech's CEO, Max Metelius comments:
We are now repaying the last maturing bond, SOLT3, as part of our refinancing. During the term to date, the bondholders have received almost SEK 400 million in interest payments. Thanks to the new lower interest costs, a significantly larger part of the company's income in the future will benefit the shareholders instead of going to the company's lenders. This is another step towards our new financing platform that will mean lower interest costs, lower tax burden and virtually eliminated currency risk. It will also create the conditions for continued growth with the help of new loans in China.