Copyright © Inderes 2011 - present. All rights reserved.
  • Latest
  • Markets
    • Morning Review
    • Stock Comparison
    • Financial Calendar
    • Dividends Calendar
    • Research
    • Articles
    • Insider Transactions
  • inderesTV
  • Portfolio
  • Forum
  • Premium
  • Femme
  • Learn
    • Investing School
    • Q&A
    • Analysis School
  • About Us
    • Our Coverage
    • Team
Regulatory press release

Gigasun requests extension of the SOLT4 bond

Gigasun
Download the release

Over the past year, we have worked intensively on several different solutions to enable the repayment of SOLT4, which matures in November 2025. We have now initiated a sales process to divest selected solar power plants in order to begin the repayment of the SOLT4 bond.

We have now found a solution that means we have initiated a sales process of solar power plants in China. This will enable us to transfer liquidity to Sweden for the repayment of SOLT4. The first payments from the sales process are expected to be received around year-end, which unfortunately means that the repayment of the SOLT4 bond, maturing on November 8, 2025, will not be possible to meet on time. This is the same situation we previously had with SOLT2 and SOLT5, which were repaid with financing from China, but which also had to be extended beforehand.

To ensure the repayment of SOLT4, we consider it to be in the interest of both bondholders and the company to request an extension of the SOLT4 bond’s maturity by up to one year, with a latest maturity date of November 8, 2026. The next step will be that the bondholders are informed and given the opportunity to vote on the proposed extension of the relevant bond agreements through a written procedure.

We have previously repaid four bonds in a total amount of SEK 933 million and, in addition, have always paid interest to the company’s bondholders on time. This demonstrates our ability and willingness to meet our financial commitments and our dedication to our bondholders.

Max Metelius, CEO of Gigasun, comments:
“Gigasun operates in a very strong renewable energy market in China and has a well-functioning and proven business model with strong cash flows. The initiated sales process of selected solar power plants is carried out in order to begin repayment of SOLT4. However, the timing is difficult to predict, which is the reason why we are requesting an extension of SOLT4.”
Information regarding the extension of the SOLT4 bond can be found in the attached document.

For more information, please contact:


Max Metelius, CEO Gigasun AB (publ)
Phone: +46 (0) 72 316 04 44
E-mail: max.metelius@gigasun.se

Stefan Salomonsson, CFO Gigasun AB (publ)
Phone: +46 (0) 70 220 80 00
E-mail: stefan.salomonsson@gigasun.se

Certified Advisor is FNCA Sweden AB

About the operation


Gigasun operates in China through its wholly owned subsidiaries Advanced Soltech Renewable Energy (Hangzhou) Co. Ltd (“ASRE”) and Longrui Solar Energy (Suqian) Co. Ltd. (“SQ”), and Suqian Ruiyan New Energy Co., Ltd. (“RY”).

The business model consists of financing, installing, owning and managing solar PV installations on customers' roofs in China. The customer does not pay for the solar PV installation, but instead enters an agreement to buy the electricity that the solar PV installation produces under a 20-year agreement. Current income comes from the sale of electricity to customers and governmental subsidies.

The goal is to have an installed capacity of 1,000 megawatts (MW) in the medium term.

Attachments


Gigasun SOLT4 Notice Of WP 2025

Find us on social media
  • Inderes Forum
  • Youtube
  • Facebook
  • Instagram
  • X (Twitter)
  • Tiktok
  • Linkedin
Get in touch
  • info@inderes.fi
  • +358 10 219 4690
  • Porkkalankatu 5
    00180 Helsinki
Inderes
  • About us
  • Our team
  • Careers
  • Inderes as an investment
  • Services for listed companies
Our platform
  • FAQ
  • Terms of service
  • Privacy policy
  • Disclaimer
Inderes’ Disclaimer can be found here. Detailed information about each share actively monitored by Inderes is available on the company-specific pages on Inderes’ website. © Inderes Oyj. All rights reserved.