Recylex postpones early cancellation, repayment dates for financings

By Devika Patel

Knoxville, Tenn., April 29 – Recylex SA said it postponed the date from which its financial partners would be entitled to exercise their early cancellation right for an existing financing to May 15 from April 30.

As a result, the repayment date for the bridge financing has also been deferred until May 15. That financing was arranged with Glencore International AG during the first quarter of 2019; it amounted to €14 million in the second quarter of 2019 and has been used in full to date.

The discussions initiated in December 2018 with all the company’s financial partners to adjust the financing arrangements agreed in December 2016 to its current and projected cash generation continue. The company hopes to reach a final agreement by mid-May.

Based in Suresnes, France, Recylex is a European group specialized in lead and plastics recycling, zinc recycling and the production of special metals, primarily for the electronics industry.

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